- Major support -16850 (200- day MA).
- Nikkei225 has broken psychological resistance at 17000 and jumped till 17159 yesterday on account of weaker yen.It is currently trading around 17059.
- The index is facing strong resistance at 17200 and any break above confirms further bullishness , a jump till 17330/17500 can be seen.
- Short term trend is slightly bullish as long as the index not able to break below 16850 (200-day MA).
- On the lower side, any break below major intraday support 16850 (200-day MA) and any break below 16850 will drag the pair till 16525/16400.
It is good to buy on dips around 17000 with SL 16850 for the TP of 17330/17480
