Major Asian Indices Technicals

Nikkei:

• Nikkei  has once again retreated after making a high of 16278. It is currently trading around 15848. Short term trend is weak as long as resistance 16350 (Tenken-Sen) holds.
   
• The index is facing strong resistance around 16350 and any break above 16400 will take the pair to next level 16700/17000. On the lower side  minor support is around 15500 and break below targets around 15200/14800 (200 day W MA) /14350/14000.
   
• Overall bearish invalidation only if it closes above 16775 (7 W EMA).

It is good to sell on rallies around 16100-150 with SL around 16350 for the TP of 15550.

ASX200:

• ASX200 breaks major resistance 5000 and jumped till 5017 yesterday. It is currently trading around 4956.
   
• Short term is slightly weak as long as index closes above 5000.
   
• On the lower side minor support is around 4960 and breaks below targets 4930/4850 level.
   
• The index major resistance is around 5000 and any break above targets 5050/5075.

It is good to sell on rallies around 4975-80 with SL around 5020 for the TP 4930/4865 

Kospi :

• Kospi has broken major resistance 1900 and jumped till 1913 at the time of writing. It is currently trading around 1908.
   
• Short term trend is slightly bullish as long as support 1850 holds. 
   
• On the higher side any break above 1900 will take the pair till  1930/1950 in short term.
   
• The major support is around 1850 and below that level will take the index to next level 1830/ minor support is around 1880.

It is good to buy at dips  around 1870 with SL around 1850 for the TP of 1900/1930