FxWirePro: Nikkei recovers on strong US market, US-Japan trade talks in focus

Asian markets trading slightly higher expect China following foot steps of US markets. US markets closed slightly higher on account of surge in technology shares. Chinese index Shanghai has once again recovered after hitting low of 2692 almost a double bottom. The index jumped more than 80 points from the low. It is currently trading around 2770 0.32% lower.US market has closed slightly higher yesterday with Dow Jones at 25628 (0.50% higher) and S&P500 2858 (0.28% higher). USD/JPY which is the main indicator of geo political tension is trading slightly lower on rising trade war tension . US futures is trading flat with Dow Jones at 25677 (0.07% higher) and S&P500 2859 (0.01% higher). Nikkei is currently trading around 22772 0.51% higher.Japanese markets eye US-Japan trade talks for further direction.
 

USD/JPY is trading slightly lower after hitting high of 112.15 and is currently trading around 111.32 (0.06% lower).
 

On the lower side, index major support is around 22598 (200- H MA) and any break below will drag the index down till 22350/22240/22000/21750.
 

The near term resistance is around 22800 and any convincing break above will take the index to next level till 23050/23200.

It is good to buy on dips around 22450-500 with SL at 22350 for the TP of 23040.