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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 06-08-2015

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 06-08-2015
Mtechtips Yen extended loss for the fifth consecutive day on Wednesday after a key voting official of the US Federal Reserve alluded towards a rate hike in the world’s largest economy by September amid upbeat factory order data. JPYINR continued to its recent bearish trend for fifth consecutive day and settled at 51.4850 levels. A long bearish candle stick formation on EOD chart is indicating for bearishness in JPYINR. Today, correction is expected to come below 51.45 and target could be expected towards 51.30-51.15 levels.
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