Mtechtips MCX-SX JPYINR INTRADAY trading analysis 02-09-2016
MTECHTIPS Yen traded-off its one-month high Thursday as investors booked profit ahead of labour market data from the world’s largest economy. JPYINR extended its fall for fourth consecutive day and after hitting a low of 64.8850 settled at 64.90. Sell strategy given below 65.10 initiated but pair yet to test first predicated level of 64.80. A breakdown of its near term trend line support which has been hold since 29 July 2016 is indicating for bearishness in the JPYINR and any rise towards 65.25-65.35 expect to attract huge selling activities.