Mtechtips MCX-SX JPYINR INTRADAY trading analysis 26-09-2016
Mtechtips MCX-SX JPYINR INTRADAY trading analysis 26-09-2016
MTECHTIPS Sell around 66.65-66.75 Target 66.20-65.90. Stop loss above 66.90Yen retraced form the weekly high 66.70 and settled at 66.1550 levels as dollar weakened after the US Federal Reserve left monetary policy unchanged and projected a less hostile rise in the pace of the benchmark rates in coming years. The Japanese market, which climbed nearly 2% on Wednesday following the Bank of Japan’s (BOJ) decision to overhaul its monetary policy framework, is closed Thursday for a public holiday. on the weekly chart, JPYINR trading below its previous swing high while forming three rising candle stick pattern both of which creating probability for correction from every rise towards 66.20-66.40 levels. On the upside, strong resistance is seen at 67.20 sustain trade above only will expect to test 67.70-68.10.
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