Nikkei225 breaks the high of 19221 and jumped till 19347 at the time of writing. The index has made a high of 19347 and is currently trading around 19249 0.30% lower.
Market awaits US Fed monetary policy meeting which is to be held on Wed for further direction.
Technically index is slightly bullish as long as support 18250 (5- day MA) holds.
•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 18845 (5- day MA) and any break below targets 18637 (10- day MA)/18435 (21- day MA)/ 18000.
•The index should break below 16800 for further weakness.
It is good to buy on dips around 19000 with SL around 18800 for the TP of 19440/19600.
