FxWirePro: Nikkei struggles to break above 15800, good to sell on rallies
Tuesday, July 5, 2016 2:29 AM UTC
- Major Intraday support – 15580 (4H Kijun-Sen)
- Major support -14770 (Feb 2nd 2016)
- Major Intraday resistance- 15787 (90 4H EMA)
- Nikkei225 has retreated after making a high of 15795.It is currently trading around 15623.
- The index is struggling to break above 15800 (90 4H EMAt) and it should break above that level for further bullishness.
- On the lower side immediate support is around 15580 (4H Kijun-Sen) and any break below targets 15380/15250/14990.
- The Nikkei225 is facing resistance around 15800 (90 4H EMA) and any break above targets 16250/16480.
It is good to sell on rallies around 15620-15635 with SL around 15820 for the TP of 15380/15200