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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-10-2016

Wednesday, October 19, 2016 23:14
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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-10-2016


MTECHTIPS Yen traded up on Wednesday as mixed Chinese economic data failed to give any definite direction the Japanese currency even as investors await the release of ECB policy statement.JPYINR recovered more than 0.40% yesterday and settled at 64.55. Sell strategy given around 64.30- 64.35 was failed to test 64.00 downside levels and after trigging 64.50 pair tested 64.6425.Today, immediate resistance is seen at 64.75 and pair would need to trade above it in order to test 65.00-65.25,else any rise towards 64.50-64.60 could attract selling activities for the taget 64.25-64.00.




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