- Nikkei has lightly declined after hitting 2- year high of 20319 yesterday. The index slightly declined till 20134 at the time of writing . It is currently trading around 20144 0.24% higher.
- USD declined slightly against JPY after hitting a high of 111.78. The pair is facing strong resistance at 111.85 (100- MA) and any breka above confirms bullish continuation.
- On the lower side, near term support is around 20030 (4 Hour Kijun-sen) and any break below will drag the index down till 19950 (100- 4HMA)/19850 (200- 4HMA)/19740 Jun 15th 2017 low).
- The near term resistance of Nikkei is around 20477 (161.8% retracement of 20019 and 19277) and break above will take the index to recent high of 20530 (161.8% retracement of 20220 and 19744)/20649 (161.8% retracement of 19698 and 18193).
- Short term bullish invalidation only below 19275
It is good to buy on dips around 20000 with SL around 19740 for the TP of 20470/20650.
