Mtechtips MCX-SX JPYINR INTRADAY trading analysis 18-05-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 18-05-2017
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 . Noting point is selling at lower levels seems decreasing. The JPYINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is on SELL signal and GBPINR is coming down from overbought level For short term Yen is in HOLD SHORT position.Positionally Support for JPYINR is 56.77-.Resistance for the JPYINR is 57.54-58.24-58.46-58.89-58.9-61.64-
In medium term Yen is relatively strengthening against Euro- Dollar- Pound-
Short term and Intraday Level of Yen with Rupee
JPYINR closed above 1 week high with volume signals up breakoutCurrently JPYINR is in HOLD LONG position JPYINR is in sideways and sellers was at high so for short term better buy above 57.645 or hold with stop at 56.4975 The next resistance will be at 57.19 The JPYINR is now trading is approaching oversold level. The JPYINR is now trading is approaching oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 57.645 with a stop at 56.866 Below 56.676 go for sell and put stop at 57.455
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