Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Nikkei Daily Outlook

  • Nikkei is continuing its winning streak for 11th consecutive days due to stable yen and on expectations that ruling bloc will win elections later this month.The index has has made a 21- year high at 21391 and is currently trading at 21366 0.02% higher.
     
  •  USD/JPY has shown a minor recovery till 112.47 from the low of 111.65. The pair bullish continuation can be seen only above 113.45 and any break above will take the pair till 114/115. The pair's major support is around 111.12 (100- day MA) and any close below  will drag the index till 110/108. It is currently trading around 111.97.
     
  • On the lower side, index major support is around 20935 (10- day MA) and any break below will drag the index down till 20667 (20- day MA)/20200/20000.
     
  • The near term resistance is around 21400 and any break above will take the index to next level till 21600/21780.


It is good to buy on dips around 20800 with SL around 20600 for the TP of 21580/21780.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.