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Nikkei breaks major support at 16470, targets 15500

Tuesday, February 9, 2016 3:13 AM UTC

Nikkei breaks major support 16470 and declined till 16108 at the time of writing. It is currently trading around 16113. Short term trend is weak as long as resistance 16500 holds.

Any break above 16500 will take the pair to next level 17000/17300. On the lower side major support is around 15780 (21st Jan 2016) and break below targets 15500/15000.
Overall bearish invalidation only above 17300.

It is good to sell on rallies around 16250-300 with SL around 16500 for the TP of 15800/15500

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Nikkei breaks major support at 16470, targets 15500

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