• Nikkei is trading slightly higher after three day weekend and hits fresh 2- year high  after breaking high of 20755. The index jumped till 20786 and prices are supported by weak yen and strong global indices. Nikkei has formed a temporary bottom around 20200 and is currently trading around 20785 0.53% higher.
   
•  USD/JPY has declined sharply after hitting high of 113.44. The pair bullish continuation can be seen only above 113.45 and any break above will take the pair till 114/115. The major support is around 112.20 (233- day MA) and any break below will drag the index till 111.11 (100- day MA). It is currently trading around 112.65. 
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• On the lower side, index major support is around 20525 (10- day MA) and any break below will drag the index down till 20400 (23.6% retracement of 19144 and 20786)/20200/20000.
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• The near term resistance is around 20800 and any break above will take the index to next level till 21000/21250.
• It is good to buy on dips around 20350-20400 with SL around 20200 for the TP of 20850/21000