• Asian markets were trading slightly lower after FOMC meeting. US fed hiked interest rates by 25bpbs to 1.75% -2% as expected. The fed was more optimistic on the economy and medium rate hike for 2018 was revised to 4 times from 3 times. Markets was trading weak as Fed signals faster rate hike. Nikkei declined almost 200 points from the high 23024. US markets have closed slightly weak with Dow Jones 25201 (0.47% lower) and S&P500 2775 (0.40%lower). US futures is trading slightly higher flat with Dow Jones at 25155 (0.16% lower) and S&P500 27 (0.36% higher).Nikkei is currently trading around 22775 0.32% lower.
   
• USD/JPY has declined almost more than 50 pips after the fed meeting. The pair is trading slightly weak below 200- day MA. It is currently trading around 110.02.    
   
• 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.