Mtechtips MCX-SX JPYINR INTRADAY trading analysis 24-02-2016
Mtechtips MCX-SX JPYINR INTRADAY trading analysis 24-02-2016
Mtechtips Yen traded at over one-week low Tuesday as oil prices resumed its downside during Asian trades on fear of oversupply from Iraq, triggering risk-off sentiments among global investors.After witnessing a gap up opening at 61.1425 against previous close 60.5650, JPYINR retraced towards 60.9250 and settled at 61.2350. On EOD chart a high wave candle stick formation is indicating for trend reversal may take place in days to come. Near term resistance is seen at 61.50 sustain trade above only could test 62.00-62.50 and above, else any rise towards 61.30-61.25 could attract short time selling activities with strict stop loss above 61.48.
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