FxWirePro: Nikkei trades slightly higher, markets eye US-Saudi geopolitical tension

Asian markets is trading mixed with Nikkei trading slightly higher on slight weakness in yen. But upside is capped due political tensions  markets especially Dow Jones has declined slightly after a minor recovery with Dow Jones down 89 points at 25250 and S&P500 2750 (0.59% lower) .Shanghai is consolidating in narrow range after hitting low of 2536. It is currently trading around 2568 0.03% higher. US 10 year bond yield is trading muted after hitting high of 3.25%.Nikkei has recovered more than 300points after hitting low of 22030.It is currently trading around 22380 0.48% higher. US futures is trading slightly lower 25272 0.30% higher and S&P500 2754.70 (0.39% higher).

USD/JPY `has recovered slightly after hitting low of 111.62. The pair is facing strong support at 111.78 (10- W MA) and any convincing close below targets 111.30/110.It is currently trading around 111.95.

On the lower side, near term support is around 22380 (200- day MA) and any break below 22158/21750.

The near term resistance is at aid 22600 and any break above targets 22989 (89- day EMA)/23250.

It is good to sell on rallies around 23650-700 with SL around 22850 for the TP of 21750.