FxWirePro: Nikkei 225 Faces Strong Resistance at 17300, Good to Buy at Dips

FxWirePro: Nikkei 225 Faces Strong Resistance at 17300, Good to Buy at Dips

• Short term trend reversal level - 17300 
• The index has broken major resistance 16650 and jumped till 16808 at the time of writing . It  is currently  trading around 16740.Short term trend is slightly bullish  as long as support 16300 holds. 
• The index major resistance is around 17000 and any break above will take the index to next level 17300/17600/17878 (29th Jan 2016) 
• On the lower side minor support is around 16400 and break below will drag the index down till 16000/15700/15500 in short term.  
• Short term weakness can be seen only below 15000.
  

It is good to buy at dips around 16600 with SL around 16400 for the TP of 17000/17300.

The material has been provided by InstaForex Company - www.instaforex.com