FxWirePro:Nikkei225 takes support near 21- day EMA, good to buy on dips

• Nikkei225 has broken major support at 19315 and declined till 19164 at the time of writing .It is currently trading around 19209 -0.66% lower.
   
• •Technically index is expected to take support near 21- day EMA and minor weakness can be seen only if it closes below that level.
   
• •On the higher side, minor resistance is around 19420 (10- day MA) and any break above will take the index till 19700 (161.8% retracement of 19542 and 19273) till 20000/20280 in the short term.
   
• •The index immediate support is at 19048 (21- day EMA) and any break below will drag the index down 19000/18800 (23.6% retracement of 16106 and 19653).
   
• •The index should break below 18000 for further weakness.

 It is good to buy on dips around 19200 with SL around 19000 for the TP of 19700/20000.