FxWirePro: Nikkei225 Recovers After Making a Low of 16250, Good to Buy at Dips

FxWirePro: Nikkei225 Recovers After Making a Low of 16250, Good to Buy at Dips

• Major support - 16,250 ( 50% retracement of 1770 and 14770) 
• Nikkei Index has recovered till 16685 after making a low of 17256. It is currently around 16612. 
• Short term trend is  slightly weak as long as resistance 17000 holds. 
• The index major resistance is around 16690 (55 day EMA) an any break above will take the index to next level 17000/17250.   
• On the lower side major support is around 16,250 (50% retracement of 14770 and 17770)  and break below targets  till 16,000/15,800 in short term.The minor support is around 16420.  
• Short term trend reversal  can be seen only below 15,000.
  

It is good to buy at dips around 16400-450 with SL around 16250 for the TP of  16700/1700

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