Mtechtips MCX-SX JPYINR INTRADAY trading analysis 21-10-2016
MTECHTIPS Yen snapped three-day fall Thursday as risk appetite in Asian trades improved after oil prices surged above $50 on sudden fall in US crude oil inventories. Yen also weakened against the greenback as investors moved to dollar after comments from New York Fed President, William DudleyJPYINR had neutral trade yesterday and settled at 64.46, down by 0.19%. Pair failed to break its immediate resistance 64.75 as per the yesterday buy strategy. Today, immediate resistance is seen at 64.75 and pair would need to trade above it in order to test 65.00-65.25, failure of the break could triggered correction towards 64.00 again.