Nikkei225 trades weak on stronger Yen, market awaits BOJ for further direction
Minor resistance - 16185 (7 day EMA) Nikkei Index has retreated after making a high of 16011. It is currently around 15778. US Fed has kept its interest rates unchanged as expected and scales back rate hike projections. …
Nikkei Index has retreated after making a high of 16011. It is currently around 15778.
US Fed has kept its interest rates unchanged as expected and scales back rate hike projections. The Fed decision doesn't have positive impact on Asian stock market as market awaits Brexit EU referendum vote on Jun 23rd for further direction.
Short term trend is slightly bullish as long as support 15470 (200 W MA) holds.
The index major intra day resistance is around 16040 (90 HMA) and any break above 16040 will take the index to next level till 16185 (7 day EMA)/16280/16550.
Overall trend reversal is at 15470 (200 W MA) and any break below targets 15000/14800.
It is good to buy at dips around 15700-750 with SL around 15470 for the TP of 16185/16280
