FXWIREPRO: Nikkei225 Faces Major Resistance Around 17000, Good to Buy at Dips
- Major resistance - 17000
- The index has slightly recovered after making a low of 16569. It is currently trading around 16664.Short term trend is bullish as long as support 16500 holds.
- On the higher side the index is facing major resistance around 17000 any break above 17300 will take the index to next level till 17300/17520.
- The index major support is around 16450 and break below targets 16000/15500.
- Short term bullish invalidation only below 15500.
It is good to buy at dips around 16650 with SL around 16420 for the TP of 17000/17300
The material has been provided by InstaForex Company - www.instaforex.com