Asian markets are trading extremely weak following footsteps of Wall Street. US markets continues to trade weak for past 7 days and has lost more than 15%. The Fed rate hike and fear of US government shutdown is putting pressure on US markets . US markets has closed weak and lost more than 1.5% with Dow Jones 22859 (1.99% lower) and S&P500 2467 (1.58% lower). The US 10 year yield has recovered more than 2.5% after hitting low of 2.74%.US 2 year yield (2.68%) is trading above US 5 year (2.67%). Shanghai is trading down and is currently trading around 2510 (1.01% lower). Nikkei futures is trading weak sightly below 21000 and is currently trading around 21010 (0.43% lower).
USDJPY was trading extremely lower and lost more than 150 pips from high of 112.66. the pair has taken support near 200-day MA and shown a minor jump. It is trading around 111.29.The near term major support is around 110.80 and any break below targets 110.
On the lower side, near term support is around 20000 and any break below targets 19600/19100.
The near term resistance is at 20340 and any break above targets 20670 (23.6% fib)/20800/21159 (5-day MA).
It is good to sell on rallies around 20000 with SL around 19600 for the TP of 21000.


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