Mtechtips MCX-SX JPYINR INTRADAY trading analysis 02-12-2016
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 BUY signal For short term Yen is in HOLD SHORT position.Positionally Immediate support for JPYINR is 59.78.Resistance for the JPYINR is 61.43-61.9-62.96-63.23-64.18-64.86-64.93-
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 has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below59.511 Buy if above 61.725 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 60.621 with a stop at 59.73 Below 59.511 go for sell.