Mtechtips MCX-SX JPYINR INTRADAY trading analysis 16-03-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 16-03-2017
MTECHTIPS Yen is weakening against Indian Rupee .Currently Yen is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . In last few days volume based selling happened in the Yen. The JPYINR is now trading in oversold level. The JPYINR is now trading in oversold level. The oscillator is showing SELL signal For short term Yen is in SELL position.Positionally Immediate support for JPYINR is 56.95.Resistance for the JPYINR is 58.62-58.95-59.22-59.38-59.4-60.48-62.77-
In medium term Yen is relatively strengthening against 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 SHORT position The JPYINR is in downtrend .Last day JPYINR was in bull trend So short term buyers buy if close above 57.821 The JPYINR is now trading in highly oversold level. The JPYINR is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy the JPYINR if open above 57.675 or above 57.765 with a stop at 57.275 Sell below 57.185 or sell if open below 57.275
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