Nikkei225 breaks 200-day MA, close above targets 17300/17500
Nikkei225 has closed at two week high yesterday on account of weaker yen. The index jumped till 16914 and closed at 16904.It is currently trading around 16909. The index trades slightly above 16896 (200 - day MA) and it …
Nikkei225 has closed at two week high yesterday on account of weaker yen. The index jumped till 16914 and closed at 16904.It is currently trading around 16909.
The index trades slightly above 16896 (200 - day MA) and it should close above 200 - day MA for further jump .
Short term trend is slightly bullish as long as the index not able to break below 16290 (61.8% retracement of 15894 and 16935).
On the lower side, any break below major intraday support 16620 (daily Kijun-Sen) and any break below 16620 will drag the pair 16400 (100-day MA)/16290.
It is good to buy on dips around 16750 with SL 16600 for the TP of 17000/17300
