Mtechtips MCX-SX JPYINR INTRADAY trading analysis 08-05-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 08-05-2017
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 .. 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 56.82.Resistance for the JPYINR is 58.17-58.65-58.71-58.82-59.04-59.17-61.92-
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 The JPYINR is in downtrend For short term buy only if close above 57.424 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 only above 57.855 with a stop at 57.235 Below 57.106 go for sell and put stop at 57.725
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