Mtechtips MCX-SX JPYINR INTRADAY trading analysis 04-05-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 04-05-2017
MTECHTIPS:- Yen is weakening against Indian Rupee .Currently Yen is in strong downtrend with good momentum 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 57.18.Resistance for the JPYINR is 58.58-58.84-58.86-58.88-59.09-59.21-62.01-
In medium term Yen is relatively strengthening against Pound-
Short term and Intraday Level of Yen with Rupee
Currently JPYINR is in HOLD SHORT position JPYINR is moving sideways so short term investor better to buy only above 58.1 or hold with stop at 57.4125 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 is advised above 57.605 with a stop at 57.295 Below 57.275 go for sell
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