Mtechtips MCX-SX JPYINR INTRADAY trading analysis 12-05-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 12-05-2017
MTECHTIPS:- Yen is weakening against Indian Rupee .Currently Yen is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. 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 56.3.Resistance for the JPYINR is 57.67-58.17-58.52-58.68-58.96-59.07-61.78-
In medium term Yen is relatively strengthening against Euro- Pound-
Short term and Intraday Level of Yen with Rupee
Currently JPYINR is in HOLD SHORT position JPYINR has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below56.217 Buy if above 57.5425 The JPYINR is now trading is approaching oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 56.994 with a stop at 56.357 Below 56.217 go for sell
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