Mtechtips MCX-SX JPYINR INTRADAY trading analysis 23-11-2016
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 . 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 SELL signal For short term Yen is in SELL position.Positionally Immediate support for JPYINR is 61.14.Resistance for the JPYINR is 62.9-63.09-63.53-63.9-64.83-65.3-65.32-
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 SHORT position JPYINR is in sideways so for short term better buy above 62.4475 with stop at 61.39 The JPYINR is now trading in highly oversold level. The JPYINR is now trading in highly oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 61.874 with a stop at 61.417 Below 61.347 go for sell and put stop at 61.803.