Mtechtips MCX-SX JPYINR INTRADAY trading analysis 21-11-2016
MTECHTIPS The Yen is weakening against Indian Rupee .Currently Yen is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . In last few days volume based selling happened in the Yen. The JPYINR is now trading in oversold level. The JPYINR is now trading in oversold level. The oscillator is showing SELL signal For short term Yen is in SELL position.Positionally Immediate support for JPYINR is 61.28.Resistance for the JPYINR is 63.06-63.5-63.83-64.11-64.97-65.35-65.41-
In medium term Yen is relatively strengthening against Euro- Dollar- Pound- In long term Yen is relatively strengthening against Dollar-
Short term and Intraday Level of Yen with Rupee
Currently JPYINR is in HOLD SHORT position The JPYINR is in downtrend For short term buy only if close above 62.178 The JPYINR is now trading in highly oversold level. The GBPINR is now trading is approaching overbought level. The oscillator is on SELL signal and GBPINR is coming down from overbought level
Intraday Trend- Buy is advised only above 62.364 with a stop at 61.457 Below 61.237 go for sell and put stop at 62.144.