Major resistance - 19698 ( Jan 9th 2017)
Nikkei has shown a some profit booking after hitting high of 19669 yesterday on account of slight weakness in global equity market.It is currently trading at 19540 0.03% higher.
•USD/JPY has once again declined after showing a jump till 114.59 level.It is currently trading around 114.25.It's major resistance is around 115 and minor bullishness can be seen above that level.
• On the lower side ,19284 (21- day EMA) is acting as next immediate support and any break below targets 18980 (trend line joining 18224 and 18638)/18639 (100 -day EMA) .
•The major resistance is around 19698 (Jan 9th 2017 high) and any break above will take the index till 19917 (161.8% retracement of 19566 and 18986)/20000.
It is good to buy on dips around 19500 with SL around 19300 for the TP of 19980
