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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 10-08-2016

Tuesday, August 9, 2016 23:08

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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 10-08-2016

MTECHTIPS Yen traded little changed during Asian trades Tuesday as investors have no clear direction on lack of fresh cues.The dollar fell against the yen on Wednesday as retreating Tokyo stocks drove safe-haven bids for the yen, while bargain hunting helped the battered pound crawl away from its one-month low.JPYINR has stalled its recent bearish trend and settled at 65.6350, up 0.14%. ON the EOD chart pair took the near term trend line support which is indicating for upside move in JPYINR. On the other hand, further correction is expected to come below 65.25 for the target 64.80-64.55.On the other hand, a break above 66.10 Target 66.35/66.60. Stop loss below 65.98.

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