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FxWirePro: Nikkei225 trades weak,good to sell on rallies

  • Major Support -16240 (Jul 26th low) 
     
  • Major resistance- 17000  
  • Nikkei225 has broken 90 day EMA and declined till 16365 at the time of writing .It is currently trading around 16420.
     
  • 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 16240 (Jul 26th low) and any break below targets 16000/15876 (daily Tenken-Sen)..
  • It is good to sell on rallies around 16550-16600 with SL around 16800 for the TP of 16240/16000.
  • Market Data
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