- Major resistance - 17500
- Nikkei225 trades slightly higher compared all other Asian indices on the account of weaker yen.It is currently trading around 17402.
- Technically index is slightly bullish and it is trading well above 17000 level. USD/JPY jumped from the low of 103.72 ill 105.53 in the previous week. It is currently trading around 104.80.
- On the higher side, resistance is around 17500 and any break above will take the index to next level till 17695/18000.
- The major support is around 17270 (10- day MA) and any break below targets 17045 (21-day MA)/16869 (daily Kijun-Sen).
It is good to buy on dips around 17300 with SL 17145 for the TP of 17695/17800.
