Asian markets is trading weak following footsteps of US futures. US futures is trading extremely lower and has lost more than 2% on yield curve inversion. The US 10 year yield has lost trading around 2.89%. The spread between US 10-year and 2-year yield has reduced further to 10 basis point.Shanghai is trading lower and is currently trading around 2612 (1.40% lower).Nikkei is showing a minor recovery after a 100 point fall and is currently trading around 21349 (1.97% lower) and is currently trading around 21349.
USDJPY is trading lower after a minor jump till 113.24.It is currently trading around 112.79.The near term major support is around 112.40 and any break below targets 112/111.37.
On the lower side, near term support is around 21174 and any break below targets 20795.
The near term resistance is at 22000 and any break above targets 22330/22490 (200- day MA).
It is good to sell on rallies around 21600-650 with SL around 21800 for the TP of 21000.