Mtechtips MCX-SX JPYINR INTRADAY trading analysis 19-05-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 19-05-2017
MTECHTIPS:- Yen is strengthening against Indian Rupee in long- medium- short-medium- short- term .Currently Yen is in 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 JPYINR is now trading in oversold level. The oscillator is showing BUY signal For short term Yen is in HOLD LONG position and closed above 3 week high with volume signals up breakout.Positionally Support for JPYINR is 58.43-57.99-57.79-57.12-56.9-.Resistance for the JPYINR is 61.62-
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 so for short term better buy above 59.409 or hold with stop at 56.4975 The next resistance will be at 58.8825 Yesterday the up movement was with volume this also confirm an up break out The oscillator is showing BUY signal
Intraday Trend- Buy above 59.409 and keep stop below 58.213 Target is 59.9 next 60.701 Below 57.724 trend reversal can occur and next level is 56.926
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