Nikkei225 shown decline till 19160 on Friday and jumped slightly from that level. It is currently trading around 19365 0.14% higher.
•Japanese Yen slightly recovered from the high of 118.66 and is currently trading around 117.62. The yen is till weak as long as the resistance 116.
•Technically index is expected to jump slightly further on account of weaker yen.
•On the higher side, major resistance is around 19445 (161.8% retracement of 19347 and 19187) and any break above targets 19600 (61.8% retracement of in the short term.
•The index immediate support is at 19200 (7-day EMA) and any break below will drag the index down 18700 (61.8% retracement of 18224 and 19542) /18640 (21- day MA)/18200.
•The index should break below 18000 for further weakness.
It is good to buy on dips around 19250 with SL around 19000 for the TP of 19600/19800.
