Nikkei trades slightly above 19000, jump till 19600 likely
Nikkei continues its winning streak as French election relief boosts risk appetite.The index broken major psychological resistance at 19000 and jumped till 19058 at the time of writing. The risk rally has kept safe haven assets such as gold and yen under pressure.It is currently trading around 19048 1.03% higher.
USD/JPY broken major resistance at 110 and jumped till 110.51. The pair jumped from the low of 108.13. It is currently trading around 110.09.
On the lower side ,near term support is around 18750 (21- day EMA) and any break below targets 18325 ( 61.8% retracement of 16106 and 16698) /1800/17800 is possible.
The major resistance is around 19105 (61.8% retracement of 19668 and 18197) and any break above will take the index till 19341/19668 9Mar 2nd 2017 high).
It is good to buy on dips around 18700-18725 with SL around 18500 for the TP of 19340/19665.
USD/JPY broken major resistance at 110 and jumped till 110.51. The pair jumped from the low of 108.13. It is currently trading around 110.09.
On the lower side ,near term support is around 18750 (21- day EMA) and any break below targets 18325 ( 61.8% retracement of 16106 and 16698) /1800/17800 is possible.
The major resistance is around 19105 (61.8% retracement of 19668 and 18197) and any break above will take the index till 19341/19668 9Mar 2nd 2017 high).
It is good to buy on dips around 18700-18725 with SL around 18500 for the TP of 19340/19665.