Mtechtips MCX-SX JPYINR INTRADAY trading analysis 10-10-2016
MTECHTIPS ell below 64.50 Target 64.00-63.65. Stop loss above 64.65.Japanese Yen plunged more than 2% in last few sessions as investors expect Fed to hike rates in Dec while as the same time BoJ might ease its policy further. Technically, On the weekly chart, JPYINR found to break it’s near term triangle pattern which is indicating for decent fall is waiting in days to come. However, there is massive support at 64.40 and valid plunge could expect below this levels. On the upside, strong resistance is seen at 65.30 sustain trade above only will expect to test 66.10-66.65.