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FxWirePro:Nikkei rebounds from 1-month low,investors watch yield curve

Major support - 20800

Asian markets recovers sharply especially Nikkei has jumped more than 2% on short covering.Global markets shown a massive sell-off yesterday on declining bond yield . US 10 year yield hits 2.37% yesterday lowest level since 2017. US 3 month and 10 year yield has inverted for first time since 2007. USDJPY has halted its weakness and shown a minor recovery above 110. US markets has closed flat with Dow Jones at 25516 (0.06% higher) and S&P500 2798 (0.08% lower). Nikkei recovered more than 500 points from low of 20878 and is currently trading around 21378.

 On the lower side, near term support is around 20800 and any break below targets 20480/20350/20185.

 The near term resistance is at 21440 (20-day MA) and any break above targets 21680/21765 (200- day MA).

It is good to buy on dips around 21000-050 with SL around 20800 for the TP of 21440.

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ARAnnual Primary Balance*

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ARAnnual Primary Balance*

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