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FxWirePro:Nikkei225 struggles to break above daily-Kijun-Sen, good to sell on rallies

Friday, September 30, 2016 2:50 AM UTC

Nikkei225 has jumped sharply till 16737 yesterday and started to decline from that level.It is currently trading around 16441.
The index has broken minor support at 16585 (daily Tenken-Sen) and declined below 100 - day MA (10435) at the time of writing.
Technically in the daily chart the index is struggling to close above Kijun-Sen.Any break above Kijun-Sen confirms minor bullishness.
On the higher side, resistance is around 16585 (daily Tenken-Sen) and any break above targets 16705 (daily Kijun-Sen) /16835/ 17000/17159.Nikkei should break above 17159 for further bullishness.
The major support is around 16435 (100- day MA) and any break below targets 16260 (38.2% retracement of 14823 and 17159)/16000.

It is good to sell on rallies around 16550-600 with SL 16740 for the TP of 16386/16260.

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FxWirePro:Nikkei225 struggles to break above daily-Kijun-Sen, good to sell on rallies

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