FxWirePro:Nikkei225 faces strong resistance at 16600, good to sell on rallies

• Major resistance  - 17000
   
• The index has opened gap down today morning after making a high of 16926 yesterday .It is currently  trading around 16336.Short term trend is slightly weak as long as resistance 16600 (200 day 4H MA) holds.
   
• The index major resistance is around 16600 and any break above will take the index to next level 17000/17300/17600/17878 (29th Jan 2016)
   
• On the lower side minor support is around 16200 (Cloud bottom) and break below will drag the index down till 16000/15750 (cloud top) in short term.
    
•  Short term weakness can be seen only below 15000.

 It is good to sell on rallies around 16600 with SL around 17000 for the TP of 16000/15700.