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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 11-09-2015

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 11-09-2015
Mtechtips Yen extended its recent bearish move on Wednesday as encouraging US jobs openings data coupled with additional measures taken by China to stabilize its economy not only raised expectations of Fed September rate hike but also lowered safe-haven appeal of the yen. A bearish engulfing pattern was resulted 0.90% correction in JPYINR. Sell strategy given below 55.50 was successful and hit first target 55.20 day low was 55.1125. Short term trend has shifted to the downside. Today, correction is expected to come below 54.90 levels for the target 54.60 and below.
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