Mtechtips MCX-SX JPYINR INTRADAY trading analysis 22-08-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 22-08-2017
MTECHTIPS:- Yen is strengthening against Indian Rupee in long- medium- short-medium- short- term .Currently Yen is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The JPYINR is now trading in oversold level. The JPYINR is now trading in oversold level. The oscillator is on SELL signal and JPYINR is coming down from overbought level For short term Yen is in HOLD LONG position.Positionally Support for JPYINR is 58.12-58.01-57.84-57.75-57.67-57.64-.Resistance for the JPYINR is 59.24-In medium term Yen is relatively strengthening against Euro- In long term Yen is relatively strengthening against Euro- Dollar- Pound-Short term and Intraday Level of Yen with Rupee Currently JPYINR is in HOLD SHORT position The JPYINR was in downtrend but yesterday market closed in confusion so book short if any or hold with tight stop at 58.623 If trades and sustain above 58.7 it is a covering signal The oscillator is showing SELL signal Intraday Trend-The JPYINR closed in a confusion manner So sell for intraday Only below 57.834 with a stop at 59.198 If opens above 59.198 or trade above 59.569 go for buy with stop at 58.203
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