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FxWirePro: Nikkei225 trades lower on weak global markets, good to sell on rallies

  • Nikkei declined slightly after hitting 25- year high at 23423 on account of weak global stock market and strong yen. The index has jumped almost 10% since Oct 23rd after Abe land slide victory . It is currently trading around 22561 0.35% lower.
     
  • USD/JPY has shown a minor jump after hitting low of 113.09. The pair bullish continuation can be seen if it closes above 114.45 (161.8% fibo) level. The pair's major support is around 112.95 (Oct 31st 2017 low) and any close below will take the pair  till 112.25 (233- day MA)/111.65/111.13. It is currently trading around 114.02. 
     
  • On the lower side, index major support is around 22260 (89 hourly EMA) and any break below will drag the index down till 22000/21840.
     
  • The near term resistance is around 23500 and any break above will take the index to next level till 24000/24280.

    It is good to sell on rallies around 22750-22800 with SL around 23000 for the TP of 22260/22000.
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2017-11-23 16:31:32
0m
2017-11-23 16:30:58
0m

November 23 21:00 UTC Released

KRConsumer Sentiment Ind*

Actual

112.3 Bln USD

Forecast

Previous

112.3 Bln USD

November 23 19:00 UTC Released

AREconomic Activity YY*

Actual

955 %

Forecast

-800 %

Previous

1755 %

November 23 23:50 UTC 101101m

JPForeign Bond Investment

Actual

Forecast

Previous

-105 Bln JPY

November 23 23:50 UTC 101101m

JPForeign Invest JP Stock

Actual

Forecast

Previous

182.4 Bln JPY

November 24 00:30 UTC 141141m

JPNikkei Mfg PMI Flash

Actual

Forecast

Previous

52.8 bln $

November 24 09:00 UTC 651651m

DEIfo Business Climate*

Actual

Forecast

116.6 %

Previous

116.7 %

November 24 09:00 UTC 651651m

DEIfo Current Conditions*

Actual

Forecast

125 %

Previous

124.8 %

November 24 09:00 UTC 651651m

DEIfo Expectations*

Actual

Forecast

108.9 %

Previous

109.1 %

November 24 09:00 UTC 651651m

ITIndustrial Orders MM SA

Actual

Forecast

Previous

8.7 %

November 24 09:00 UTC 651651m

ITIndustrial Orders YY NSA

Actual

Forecast

Previous

12.2 %

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