Nikkei225 Faces Strong Resistance 17000, Break Above Targets 17685

Nikkei225 Faces Strong Resistance 17000, Break Above Targets 17685

• Major resistance  - 16985 (100 day EMA) 
• Major support - 16410 (100 day 4H MA) 
• Nikkei index  faces strong resistance at 17000 and is struggling to break above that level. It is currently trading around 16839. 
• Short term trend is  slightly bullish as long as support 16400 holds. 
• The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.The minor resistance is at 16850.   
• On the lower side major support is around 16400 (100 day 4H MA)  and break below targets  till 16200/16000/15800 in short term.The minor support is around 16650(55 day EMA).  
• Short term trend reversal  can be seen only below 15000.

It is good to buy above 17000 with SL around 16650 for the TP of  17525/17685

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