FxWirePro:Nikkei225 faces strong support at 15800, good to buy at dips

• Major intraday resistance  - 16300 (55 day 4H EMA)
   
• Major support - 15800 (May 4th 2016)
   
• Nikkei index slightly recovered after making a low of  of 15835.It is currently trading around 16167.
   
• Short term trend is  slightly bullish as long as support 15800 holds.
   
• The index minor resistance is around 16300 and any break above will take the index to next level 16375 (200  4HMA )/16600/16800.
    
• On the lower side major support is around 15800  and break below will drag the index down till 15500/15325 in short term.
    
• Short term trend reversal  can be seen only below 15000.

It is good to buy at dips around 16000 with SL around 15800 for the TP of  16275/16600.