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FxWirePro: Nikkei225 faces strong resistance at 17000, good to buy om dips

Thursday, July 28, 2016 2:43 AM UTC

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.

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FxWirePro: Nikkei225 faces strong resistance at 17000, good to buy om dips

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