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Nikkei225 breaks major support 90 EMA, targets 16000

  • Major Support -16430 (90 day EMA) 
     
  • Major Intraday resistance- 17000  
  • Nikkei225 has broken major support 16430 and declined till 16334 at the time of writing on the account of stronger yen.It is currently trading around 16354.
     
  • The index is facing psychological resistance at 17000 and any break above confirms further bullishness.
     
  • On the lower side immediate support is around 16270 (55 day EMA) and any break below targets 16000/15700.
     
  • The Nikkei225 is facing resistance around 16800  and any break above targets 17000/17250/17480. The minor resistance is around 15560.

It is good to sell on rallies around 16430 with SL around 16600 for the TP of 16000/15820.

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