- Nikkei225 has once again recovered sharply after jumping till 19413.The slight decline in yen has made index to jump till 19623 . It is currently trading around 19618 0.03% higher.
•USD/JPY has once gain recovered from the low of 115.50 and any further weakness can be seen only below 115 level.
•Technically index major support stands at 200- HMA and any break below will confirm further weakness.
•On the higher side, major resistance is around 19653 (Dec 20th high) and any close above will take the index till 20000/20280 in the short term.
•The index immediate support is at 19360 (200-H EMA) and any break below will drag the index down 19218/19090 (61.8% retracement of 19653 and 18939) .
•The index should break below 18000 for further weakness.
It is good to buy on dips around 19500 with SL around 19350 for the TP of 19700/20000.
