Mtechtips MCX-SX JPYINR INTRADAY trading analysis 23-08-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 23-08-2017
MTECHTIPS:- Yen is strengthening against Indian Rupee in long- medium- short-medium- short- term .Currently Yen is in strong uptrend and the trend is supported with good volume 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 58.2-58.06-57.83-57.82-57.67-57.65-.Resistance for the JPYINR is 59.21-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 RupeeCurrently JPYINR is in HOLD LONG position JPYINR is in sideways and sellers was at high so for short term better buy above 58.878 or hold with stop at 57.5725 The next resistance will be at 58.9275 The oscillator is showing BUY signal Intraday Trend- Buy is advised only above 58.878 with a stop at 58.613 Below 58.603 go for sell and put stop at 58.868
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