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2017.04.2323:15:00UTC+00Fxwirepro: Nikkei225 Trades Higher, Good to Buy on Dips
Nikkei trades higher after first round elections in French. Centrist candidate Macron won 23.7% of the votes in the first round compared to 21.7% by Le Pen.The index is trading trading above 100- day EMA and is currently trading around 18863 1.4% higher.
USD/JPY broken major resistance at 110 and jumped till 110.51. The pair jumped from the low of 108.13. It is currently trading around 110.06.
On the lower side ,near term support is around 18750 (21- day EMA) and any break below targets 18325 ( 61.8% retracement of 16106 and 16698) /1800/17800 is possible.
The major resistance is around 19105 (61.8% retracement of 19668 and 18197) and any break above will take the index till 19341/19668 9Mar 2nd 2017 high).
It is good to buy on dips around 18700-18725 with SL around 18500 for the TP of 19340/19665.
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