Nikkei has shown a minor profit booking after hitting high of 22125 on slight recovery of yen and minor selling in global markets. The index has declined till 21842 and is currently trading around 21962 0.31% higher. USD…
Nikkei has shown a minor profit booking after hitting high of 22125 on slight recovery of yen and minor selling in global markets. The index has declined till 21842 and is currently trading around 21962 0.31% higher.
USD/JPY has shown a minor dip till 112.98 and shown a minor jump after BOJ has kept its interest rates unchanged. The pair bullish continuation can be seen if it closes above 115 level. The pair's major support is around 112.96 (daily Kijun-Sen) and any close below will drag the index till 112.0 (233- day MA)/111.65/111.13. It is currently trading around 113.20.
On the lower side, index major support is around 21850 (hourly cloud bottom) and any break below will drag the index down till 21650 (233- H MA)/21400/21200.
The near term resistance is around 22000 and any break above will take the index to next level till 22250/22480.
It is good to buy on dips around 21650-21700 with SL around 21400 for the TP of 22000/22480.
