• Nikkei breaks psychological resistance at 23000 and jumped till 233342 level. The index was trading almost near to 2017 high of 23423 made on Nov 9th 2017. The major reason for jump in index was mainly due to slight weakness in yen and strong global stock markets. US dow and S&P 500 hits record high on account of better than expected ISM manufacturing data and strong oil price.It is currently trading around 23332 0.71% higher.
    
• USD/JPY has taken support near 100- day MA at 112 and shown minor jump from that level. The pair jumped till 112.77 and is currently trading around 112.66. The pair should close above trend line resistance at 113.25 and any break above 113.25 will take the pair to next level till 114/115. The pair’s minor weakness can be seen below 200 day EMA at 111.66. Any daily close below 111.66 will take the pair to next level till 110.84/110. 
   
• On the lower side, index major support is around 23073 (Hourly Kijun-Sen) and any break below will drag the index down till 22933 (55- day EMA)/22619.
   
• 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 buy on dips around 22950-23000 with SL at 22600 for the TP of 23500/23980.