FxWirePro:Nikkei225 trades slightly higher on weaker yen, good to buy on dips
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 a…
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.
