Mtechtips MCX-SX JPYINR INTRADAY trading analysis 01-12-2016
MTECHTIPS The Yen is weakening against Indian Rupee .Currently Yen is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The JPYINR is now trading in oversold level. The JPYINR is now trading in oversold level. The oscillator is showing BUY signal For short term Yen is in HOLD SHORT position.Positionally Immediate support for JPYINR is 59.92.Resistance for the JPYINR is 61.66-62.21-63.12-63.21-64.29-64.93-64.98-
In medium term Yen is relatively strengthening against Euro- Dollar- Pound- In long term Yen is relatively strengthening against Euro- Dollar-
Short term and Intraday Level of Yen with Rupee
Currently JPYINR is in HOLD LONG position JPYINR has formed new high but the trend looks weak so better buy above 61.202 The oscillator is showing BUY signal
Intraday Trend- Sell if open below 60.569 with stop loss at 61.072 or sell below 60.439Buy is not advised till it cross 61.202.