FxWirePro:Nikkei225 trades higher after Fed meeting, good to buy on dips
Nikkei225 breaks 200- HMA after Fed kept its interest rate unchanged in September meeting.It is currently trading around 16633. Fed has kept its interest rate unchanged and reiterated that "the case for an increase in th…
Nikkei225 breaks 200- HMA after Fed kept its interest rate unchanged in September meeting.It is currently trading around 16633.
Fed has kept its interest rate unchanged and reiterated that "the case for an increase in the federal funds rate has strengthened".
Technically in the hourly chart the index is trading well above Tenken-Sen (16595),kijun-sen (16586) and also above 200- HMA a jump till 16835/17000 is possible.
Nikkei should break above 17159 for further bullishness.
The major support is around 16470 (100- HMA) and any break below targets 16260 (38.2% retracement of 14823 and 17159)/16000.
It is good to buy on dips around 16600 with SL 16465 for the TP of 16835/17000
