Fxwirepro:nikkei225 Trades Lower on Stronger Yen, Good to Sell on Rallies

Nikkei225 breaks major support at 19200 and declined slightly till 19090 yesterday  .The slight jump in yen has made index to decline till 19098. It is currently trading around 19178 0.90% lower.

•USD/JPY has broken major support 115 and declined till 114.25.It is currently trading around 114.70.

•Technically index has taken support near 61.8% fibo and any close below that level will drag the index down till 18930/18818.

•On the higher side, major intraday resistance is around 19305 (Hourly kijun-sen)and any break above will take the index to 19395 (89- H EMA) and any close above will take the index till  19700/20000/20280 in the short term.

•The index immediate is at 19090 and any break below will drag the index down 19000/18818.

•The index should break below 18000 for further weakness.

It is good to sell on rallies around 19200-240 with SL around 19350 for the TP of 19090/18820.

The material has been provided by InstaForex Company – www.instaforex.com

The post Fxwirepro:nikkei225 Trades Lower on Stronger Yen, Good to Sell on Rallies appeared first on forexnewstoday.net.

You may also like