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FxWirePro:Nikkei declines slightly on global growth outlook concern, good to buy on dips

Asian markets are trading slightly lower especially Nikkei declined slightly following footsteps of US markets. US Durable goods orders rose by 1.2% in Dec but core capital goods orders dropped unexpectedly by 1% compared to -0.6% in previous month.US Phiily Fed manufacturing index came at -4.1 compared to forecast of 14.1.US market has closed slightly lower with Dow Jones at 25850 (0.40% lower) and S&P500 2774 (0.35% lower).USDJPY is trading flat after hitting high of 111.12.It is facing strong resistance around 111.40 and is currently trading around 110.74.

 On the lower side, near term support is around 21300 and any break below targets 21077/21000/20800.The index should break below 20800 for further direction.

 The near term resistance is at 21500 and any break above targets 21700/21918.

It is good to buy on dips around 21150-200 with SL around 20900 for the TP of 21500/21700.

 

 

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January 31 00:00 UTC 601412601412m

ARAnnual Primary Balance*

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January 31 00:00 UTC 601412601412m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

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