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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 18-10-2016

Monday, October 17, 2016 23:02
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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 18-10-2016


MTECHTIPS Yen recovered more than 0.35% for second straight session Monday as upbeat data from the US raised bets for a rate hike by the US Federal Reserve in December.JPYINR witnessed 0.38% recovery rally on Monday and settled at 64.3175 levels. Intraday price action resulted in formation of bullish harami candle stick which is indicating for bearish trend reversal. On the downside, crucial support is seen at 64.00 and pair would need to trade below 64.00 in order to test 63.65-63.50.



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