Nikkei hits 1- week high at 19749 at the time of writing on account of slight weak yen and easing North Korea tension. The index jumped almost 500 points from the low and it is trading around 19724 0.17% higher. USD/JPY …
Nikkei hits 1- week high at 19749 at the time of writing on account of slight weak yen and easing North Korea tension. The index jumped almost 500 points from the low and it is trading around 19724 0.17% higher.
USD/JPY has shown a huge recovery from the low of 107.32. It is currently trading around 109.32. The minor bullishness can be seen only above 109.85. Any break above will take the pair till 110/110.67.Short term support is around 107.30 and any break below targets 106.
On the lower side, index major support is around 19485 (daily Tenken-Sen) and any break below will drag the index down till 19373/19200/19144/19000 (61.8% retracement of 18193 and 20319)/18500.
The near term resistance of Nikkei is around 19792 (100- day MA) and break above will take the index to 19798 (cloud bottom)/20000/20319 (Jun 20th 2017).Short term bullish invalidation only below 19145.
It is good to buy on dips around 19550-600 with SL around 19370 for the TP of 20000/20319
