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Add as a preferred source on Google Nikkei225 trades below 17000, targets 17280/17470 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 resista…
By FxWirePro Team Sep 5, 2016, 5:38 AM UTC
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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
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