Major Support -16240 (Jul 26th low)
Major resistance- 17000
- Nikkei225 has retreated after making a high of 16835 yesterday .It is currently trading around 16530.
- Market awaits BOJ monetary policy for further direction.
- The minor resistance is around 16586 (daily Kijun-Sen) any break above targets 16850.It should break above 17000 for further bullishness.
- On the lower side immediate support is around 16430 (90 4H EMA) and any break below targets 16240/16000.
It is good to buy on dips around 16450 with SL around 16200 for the TP of 16800/16950.
