Nikkei225 broken major support at 18850 at the time of writing on account of stronger Yen. It is currently trading around 18836 1.13% lower.
The index is facing strong support at 60- day EMA and any break below confirms further weakness.
•USD/JPY upside is capped by 10 -day MA and any break above confirms minor bullishness. It is currently trading around 112.67.
•Technically index is facing strong support at 18850 (23.6% retracement of 16106 and 19698) and any break below that level will drag the index down till 18735 (60 - day EMA)/18285.
•On the higher side, major intraday resistance is around 19110 (30- day EMA) and any break above will take the index to 19285 (61.8% retracement of 19566 and 18818) /19566/19700.
•The index should break below 18000 for further weakness.
It is good to sell on rallies around 19100-150 with SL around 19285 for the TP of 19000/18850
