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FxWirePro: Nikkei225 trades cautious ahead of Fed meeting, good to buy on dips

Major support - 20800

Asian markets are trading flat with cautious tone especially Nikkei consolidating in narrow range of 200 points ahead of Fed meeting.ed is expected to more dovish as usual and to layout a plan to stop shrinking its $4 trillion balance sheet. USDJPY has jumped nearly more than 50 pips from recent low of 111.15 level. US markets has closed flat after 7 days of winning streak  with Dow Jones at 25887 (0.10% lower) and S&P500 2832 (0.01% lower).Nikkei hits intraday low of 21501 and is currently trading around 21586.

 On the lower side, near term support is around 21400 and any break below targets 21195 (89- day EMA)/20991-21070 (100- day MA and trend line support)/20800/20500/20320.

 The near term resistance is at 21680 and any break above targets 21800 (200- day MA)/22000.

It is good to buy on dips around 21300-325 with SL around 21180 for the TP of 21800.

 

 

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 775185775185m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 775185775185m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 787005787005m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 775185775185m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 787005787005m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 775185775185m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 775185775185m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 775185775185m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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