Mtechtips MCX-SX JPYINR INTRADAY trading analysis 11-03-2016
Mtechtips MCX-SX JPYINR INTRADAY trading analysis 11-03-2016
MTECHTIPS:- Yen plunged more than 1.20% on Thursday as risk appetite improved after oil prices surged to a three-month high Wednesday and on expectations of further monetary easing by European Central Bank. After witnessing more than 1% gap down opening JPYINR tested 59.15 levels and settled at 59.25. However it failed to break below the support 59.15. Short term trend is expect to remain bearish in JPYINR, and further correction is expect to come below 59.15, else any rise towards 59.95-60.00 could attract huge selling pressure.
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