• Asian markets were trading slightly lower on U.S China trade war.  US President Trump has planned to impose “pretty significant” tariffs of almost $50 billion of Chinese goods on Friday. Euro hits two week low after more dovish ECB comments. ECB is planning to reduce bond buying programme but to keep rates on hold till summer 2019. Nikkei declined almost 200 points from the high 23024. US markets have closed flat with Dow Jones 25175 (0.10% lower) and S&P500 2782 (0.25% higher). US futures is trading slightly higher flat with Dow Jones at 25144 (0.20% lower) and S&P500 2782 (0.25% higher). Nikkei is currently trading around 22851 0.50% higher.
   
• USD/JPY has declined almost 100 pips after the US –North Korea summit. The pair is trading slightly above 110.84 high made on Jun 13th 2018. It is currently trading around 110.86.    
   
• On the lower side, index major support is around 22553 (20- day MA) and any break below will drag the index down till 22480 (daily Kijun-Sen) /22380 (55- day EMA)/22137 (100- day MA)/21957 (200- day MA).
   
• The near term resistance is around 23050 and any convincing break above will take the index to next level till 23290/23500.
  
  It is good to sell on rallies around 22750-800 with SL at 23050 for the TP of 22380.