Mtechtips MCX-SX EURINR INTRADAY trading analysis 22-09-2016
MTECHTIPS EURINR retraced from the day high 74.9075 and settled at 74.79, down 0.36%. On the EOD chart pair broke its immediate support 74.85 which is indicating for further weakness in days to come. On the upside, strong resistance is seen at 75.15 sustain trade above only will expect to test 75.45-75.60.
Mtechtips MCX-SX JPYINR INTRADAY trading analysis 22-09-2016
MTECHTIPS Yen breached its highest one-week high Wednesday after Bank of Japan tweaked policy framework by targeting 10-year interest rate and at the same time kept options open to more rate cut into negative territory in a bid to tackle deflation.JPYINR swung in between gains and loss following to the Bank of Japan Policy. Pair retraced from the day high 66.48 and tested 65.39 before closing at 66.18 levels.On the EOD chart pair yet failed to break its 29 August 2016 high and formed a long bearish candle stick which is indicating for short term negative trend in JPYINR.Further, 66.55 will act as an immediate resistance and JPYINR would need to trade above it in order to test 66.85-67.10.