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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 14-08-2015

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 14-08-2015
Mtechtips Yen rose Thursday after the People’s Bank of China allowed its currency to depreciate for the third day in a row amid weak data from Asia’s second largest economy 2.79% currency has lost 3.5% against the U.S. dollar in China in the last two days, and around 4.8% in global markets after the People’s Bank of China (PBOC), the central bank, changed the way it calculates the reference rate around which the yuan is allowed to trade in a two percentage point band JPYINR continued its recent bullish trend and buy strategy given above 52.38 was successful with pair jump more than 0.30%. Near term trend is expect to remain positive and any dip towards 52.30-52.25 is expect to attract huge buying in days to come.
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