Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Nikkei225 faces support at 100 day 4H MA, good to sell on rallies

  • Major resistance  - 16985 (11 May High)
     
  • Major support - 16375 (100 day 4H MA)
     
  • Nikkei index has slightly recovered after making a low of 16409 . It is currently trading around 16525.
     
  • Short term trend is  slightly bearish as long as resistance 17000 holds.
     
  • The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.The minor resistance is at 16800. 
      
  • On the lower side major support is around 16375 (100 day 4H MA)  and break below targets  till 16200/16000/15800 in short term.
      
  • Short term trend reversal  can be seen only below 15000.


It is good to sell on rallies around 16750 with SL around 17000 for the TP of 16355/16200

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.