Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-09-2016
Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-09-2016
MTECHTIPS Yen traded lower Monday as safe-haven appeal for yen increased on looming uncertainty and caution ahead of the Federal Open Market Committee and Bank of Japan monetary policy outcomes.JPY-INR retraced from the day high 66.26 and settled at 65.85 levels. On the EOD chart pair failed to break its 29 August 2016 high and formed a long bearish candle stick which is indicating for short term negative trend in JPY-INR.Further, 66.30 will act as a strong resistance and valid buy is expected to come above this levels for the target 66.65-67.00
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