Major resistance - 19698 ( Jan 9th 2017)
Nikkei is trading weak for the fifth consecutive days on account of stronger yen.The index broken major support at 21- day EMA and declined till119190. It is currently trading at 19233 0.51% lower.
•USD/JPY has taken support near 21- day EMA and jumped slightly till 114.15 from that level.It is currently trading around 113.77.It's major resistance is around 115 and minor bullishness can be seen above that level.
• On the lower side ,19128 (trend line joining 18224 and 18973) is acting as next immediate support and any break below targets 18980 ( trend line joining 18224 and 18638)/18682 (100 -day EMA) .
•The major resistance is around 19698 (Jan 9th 2017 high) and any break above will take the index till 19917 (161.8% retracement of 19566 and 18986)/20000. The minor resistance is around 19327 (daily Tenken-Sen).
It is good to sell on rallies around 19250-280 with SL around 19400 for the TP of 19120/19000
