Mtechtips MCX-SX JPYINR INTRADAY trading analysis 24-11-2016
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 62.68-63.11-63.39-63.8-64.75-65.25-65.27-
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 showing some Up momentum So buy above 61.694 with stop at 61.39 The JPYINR is now trading is approaching oversold level. The JPYINR is now trading is approaching oversold level. The oscillator is on BUY Signal and JPYINR is recovering from oversold level
Intraday Trend- Buy is advised only above 61.954 with a stop at 61.567 Below 61.517 go for sell and put stop at 61.904.