FXWIREPRO: Nikkei225 Struggles to Close Above 17000, Good to Buy at Dips
- Major resistance - 17300
- The index has retreated after making a high of 17090.It is currently trading around 16874.Short term trend is bullish as long as support 16500 holds.
- Nikkei is struggling to beak above 17300 and any further bullishness can be seen only above 17300.On the higher side any break above 17300 will take the index to next level till 17520/17750/17900.The minor resistance is around 17150.
- The index major support is around 16500 and break below targets 16000/15500.Minor support is around 16700.
- Short term bullish invalidation only below 15500.
It is good to buy at dips around 16750 with SL around 16500 for the TP of 17300/17520/17750.
The material has been provided by InstaForex Company - www.instaforex.com