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Nikkei225 faces strong support at 21- day EMA, close below targets 19000

Nikkei has shown a temporary top around 19700 at Mar 14th 2017 and declining continuously from that level. It is currently trading at 19446 0.1% higher. 

•The index declined slightly yesterday on account of stronger yen. USD/JPY shown a minor weakness and pair dipped till 112.55 . Any close below 100-  day EMA /(112.35) will drag the pair down till 111.59/111. It is currently trading around 112.53.   

• On the lower side , 19400 (21- day EMA) and any break below will drag the index till 19190/19128  (trend line joining 18224 and 18973). 

•The major resistance is around 19698 (Jan 9th 2017 high) and any break above will take the index till 19917 (161.8% retracement of 19566 and 18986)/20000.  The minor resistance is around 19327 (daily Tenken-Sen)./19400.

It is good to sell on rallies around 19500-525 with SL around 19700 for the TP of 19190/19000


 

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August 20 23:00 UTC Released

JPReuters Tankan DI

Actual

27 %

Forecast

Previous

26 %

August 20 21:00 UTC Released

KRPPI Growth MM*

Actual

0.1 %

Forecast

Previous

-0.4 %

August 21 08:30 UTC 344344m

ID7-Day Reverse Repo*

Actual

Forecast

Previous

6.278 %

August 21 08:30 UTC 344344m

IDDeposit Facility Rate*

Actual

Forecast

Previous

18.283 %

August 21 12:30 UTC 584584m

IDLending Facility Rate*

Actual

Forecast

Previous

0.9 %

August 21 12:30 UTC 584584m

DEZEW Economic Sentiment*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 584584m

USNational Activity Index*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 584584m

CAWholesale Trade MM

Actual

Forecast

-0.4 %

Previous

0.9 %

August 21 14:30 UTC 704704m

TRReuters Tankan DI

Actual

Forecast

Previous

811.8 Bln TRY

August 21 14:30 UTC 704704m

DEZEW Current Conditions*

Actual

Forecast

Previous

811.8 Bln TRY

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