Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-01-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-01-2017
MTECHTIPS The Yen is weakening against Indian Rupee .Currently Yen is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend .. 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 LONG position.Positionally Support for JPYINR is 59.19-58.81-58.38-.Resistance for the JPYINR is 59.99-61.56-62.69-63.07-In medium term Yen is relatively strengthening against Euro- Dollar- In long term Yen is relatively strengthening against Euro- Dollar- Pound-Short term and Intraday Level of Yen with Rupee Currently JPYINR is in HOLD LONG position JPYINR is in profit booking mode so better sell and enter at lower level The JPYINR is now trading is approaching overbought level. The JPYINR is now trading is approaching overbought level. The oscillator is on SELL signal and JPYINR is coming down from overbought level Intraday Trend- Sell if open below 59.181 with stop loss at 59.779 or sell below 59.002Buy is not advised till it cross 59.96.
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