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FxWirePro: Nikkei Daily Outlook

Asian markets is trading slightly weak despite slight improvement in Brexit deal.UK PM Theresa May has got enough support from cabinet minister for her proposed deal. US markets closed lower on account huge sell-off in crude oil prices such as Apple. US futures continues to trade lower with Dow Jones at 25026 (0.30% lower) and S&P500 at 2693 (0.31% lower).Chinese market shanghai holding gains for past four days and is currently trading around 2650 0.60% higher.Nikkei has recovered 200 points from yesterday low of 21558. It is currently trading around 21758 (0.45% higher).

USDJPY is has lost nearly 100 pips from high of 114.23. The near term major resistance is around 114.25 and any break above targets 114.55. It is currently trading around 113.50.

On the lower side, near term support is around 21400 and any break below targets 21000/20800.

The near term resistance is at aid 22000 and any break above targets 22400/22600.

It is good to sell on rallies around 22000 with SL around 22100 for the TP of 20800.

 

 

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