Mtechtips MCX-SX JPYINR INTRADAY trading analysis 03-11-2016
MTECHTIPS The Yen is weakening against Indian Rupee .Currently Yen is showing some up move after small correction and trend is strong and supported with good volume The open interest is not increasing with trend .. The JPYINR is now trading in oversold level. The JPYINR is now trading in oversold level. The oscillator is showing BUY signal For short term Yen is in HOLD SHORT position and closed above 1 week high with volume signals up breakout.Positionally Support for JPYINR is 64.46-63.98-63.92-62.19-.Resistance for the JPYINR is 65.35-65.44-65.59-
In medium term Yen is relatively strengthening against Euro- Dollar-
Short term and Intraday Level of Yen with Rupee
JPYINR closed above 1 week high with volume signals up breakoutCurrently JPYINR is in HOLD LONG position JPYINR has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 65.441 with stop at 63.6625 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 65.441 with a stop at 64.401 Below 64.141 go for sell and put stop at 65.18.