Mtechtips MCX-SX JPYINR INTRADAY trading analysis 28-11-2016
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 HOLD SHORT position.Positionally Immediate support for JPYINR is 59.92.Resistance for the JPYINR is 62.11-62.84-63.15-63.49-64.57-65.13-
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 60.992 or hold with stop at 60.16 The next resistance will be at 61.785 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 above 60.992 and keep stop below 60.389 Target is 61.172 next 61.483 Below 60.209 trend reversal can occur and next level is 59.9.