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FxWirePro: Nikkei225 trades slightly above 16500, good to buy on dips

Monday, August 8, 2016 2:24 AM UTC

Major Support -16008 (daily Kijun-Sen) .
Major resistance- 16415 (90 day EMA).
Nikkei225 has broken major resistance 16415 and jumped till 16595.It is currently trading around 16562.
The intraday trend is slightly bullish as long as support 16360 (daily Tenken-Sen) holds.
Any break above 16420 will take the index to next level 16650/16900.It should break above 17160 (200 day MA) for major trend reversal.
On the lower side immediate support is around 16360 and any break below targets 16200/16000.

It is good to buy on dips around 16360 with SL 16200 for the TP of 16780/17000.

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FxWirePro: Nikkei225 trades slightly above 16500, good to buy on dips

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