February 27, 2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 04-08-2016
MTECHTIPS Yen traded up Wednesday on profit taking after sharp fall witnessed following disappointing first tranche of 28 trillion yen fiscal stimulus by the Japanese government. JPYINR continued its bullish trend and settled with a gain of 0.98% at 66.4625 levels. A long bullish candle stick formation and break out of massive resistance 65.60 on EOD chart is indicating for bullishness in the pair, but pair would need to trade above 66.60 in order to test 67.00-67.50. On the downside, support is 66.20 sustain trade below will expect to retraced towards 65.80-65.60.


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