Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-07-2016
Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-07-2016
MTECHTIPS Yen continued to its downward trend on speculation of further easing by the Bank of Japan in its policy on July 29 coupled with new fiscal stimulus from the government as growth and inflation in the world’s third largest economy.JPYINR extended its recent bearish trend and settled with loss of 0.65% at 63.30 levels. In near term pair expects to remain bearish and may test 63.00-62.80 very soon. Further, immediate resistance is seen at 63.75 sustain trade above only will expect to test 63.95-64.10.
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