FxWirePro: Nikkei225 faces strong resistance at 16050, good to sell on rallies

• Major Support - 15000 (200 W MA)
   
• Major resistance - 16050 (55 4H EMA)
   
• The index has retreated after making a high of 16020. It  is currently  trading around 15583.Short term trend is slightly weak as long as resistance 16050 holds .
   
• The index minor support is around 15300 and break below will drag the index down till 15000/147750/14355 in the short term..On the higher side major resistance is around 16050 and break above targets 16300/16420.
   
• The index short term resistance is around 16420 and break above targets 16800/17000/17300.
   
•  Short term bearish invalidation only above 17300.

 It is good to sell on rallies around 15850-900 with SL around 16050 for the TP of 15500/15330.