Nikkei/USD Dec futures is consolidating between 19275 and 18675 level for the past four trading session.
The index is facing major resistance around 19340 (200 day MA) and any close above this level will confirm short term bullishness, a jump till 19800/20000 cannot be ruled out .
On the downside the index support is around 18900 and below this level it will reach till 18650. Further weakness only below 18650.
It is good to buy only above 19340 with SL around 19180 for the TP of 19780/20000
The index is facing major resistance around 19340 (200 day MA) and any close above this level will confirm short term bullishness, a jump till 19800/20000 cannot be ruled out .
On the downside the index support is around 18900 and below this level it will reach till 18650. Further weakness only below 18650.
It is good to buy only above 19340 with SL around 19180 for the TP of 19780/20000