Mtechtips MCX-SX JPYINR INTRADAY trading analysis 28-04-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 28-04-2017
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 HOLD SHORT position.Positionally Immediate support for JPYINR is 57.42.Resistance for the JPYINR is 58.97-58.99-59.11-59.18-59.24-62.13-
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 58.175 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 58.116 or above 58.226 with a stop at 57.684 Sell below 57.575 or sell if open below 57.684
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