- Major resistance – 16985 (11 May High)
- Major support – 16410 (100 day 4H MA)
- Nikkei index has jumped till 16827 today morning in Asian session . It is currently trading around 16779.
- Short term trend is slightly bullish as long as support 16400 holds.
- The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.The minor resistance is at 16850.
- On the lower side major support is around 16400 (100 day 4H MA) and break below targets till 16200/16000/15800 in short term.
- Short term trend reversal can be seen only below 15000.
It is good to buy at dips around 16600 with SL around 16400 for the TP of 17000/17200
The material has been provided by InstaForex Company – www.instaforex.com