FxWirePro: Nikkei declines slightly on trade war fears, good to buy on dips

• Nikkei has pared its gain after showing a minor jump till 21967. Markets still confused about trade war worries happening between US and China. Shares of Hong Kong and China has shown a good jump after Chines President eased tariff to open the economy. The index hits low of 21702 and is currently trading around 21732.
   
• US dollar index declines sharply yesterday amid slightly better than expected US PPI data Markets eyes US CPI data and Fed minutes meeting to be released this week for further direction.  
   
• USD/JPY has shown a minor 75 pips recovery after taking support near 10- day MA. It is currently trading around 107.08. The pair should break above 107.50 (55- day EMA) for minor jump till 108/108.50.    
   
• On the lower side, index major support is around 21530 (55- H EMA) and any break below will drag the index down till 21320 (100- H MA)/21000.
   
• The near term resistance is around 22000 and any break above will take the index to next level till 22200/22420.

It is good to buy on dips around 21400-450 with SL at 21180 for the TP of 21800/22000.