Nikkei225 trades slightly below 200-HMA, any hourly close below targets 19220/19090

Nikkei225 has jumped till 19698 yesterday and started to decline slightly from that level .The slight jump in yen has made index to decline till 19363. It is currently trading around 19365 0.03% higher.

•USD/JPY has once again retreated after showing a slight jump till 117.53 and any break below 115 level confirms further weakness.

•Technically index is slightly trading below 200- HMA and any close below that level will drag the index down till 19218/19090

•On the higher side, major resistance is around 19700  and any close above will take the index till  20000/20280 in the short term.

•The index immediate is at 19300 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 sell on rallies around 19400-450 with SL around 19700 for the TP of 19220/19090.