Nikkei Faces Strong Resistance at 15800, Break Above Targets 16250/16480 - Good to Buy at Dips

Nikkei Faces Strong Resistance at 15800, Break Above Targets 16250/16480 - Good to Buy at Dips

4 July 2016, 05:44
Roberto Jacobs
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Nikkei Faces Strong Resistance at 15800, Break Above Targets 16250/16480 - Good to Buy at Dips

  • Major Intraday support – 15380 (4H  Kijun-Sen) 
  • Major support -14770 (Feb 2nd 2016)  
  • Major Intraday resistance- 15800 (90 4H EMA)  
  • Nikkei 225 has jumped till 15749 today morning and slightly declined from that level.It is currently trading around 15699. 
  • The index is struggling to break above 15800 (90 4H EMAt) and it should break above that level for further bullishness. 
  • On the lower side immediate support is around 15500 (90 day EMA) and any break below targets 15380/15250/14990. 
  • The Nikkei 225 is facing resistance around 15800 (90 4H EMA)  and any break above targets 16250/16480.

It is good to buy at dips around 15550 with SL around 15380 for the TP of 15900/16250

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