February 20, 2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 08-09-2016
MTECHTIPS Yen snapped it’s somewhat losses and settled up by 1.34% down for third day Wednesday tracking dollar weakness against other major currencies amid talk that the Bank of Japan may not be able to act decisively at the policy meeting later this month.A Hammer candle stick resulted in more than 1.30% positive rally in JPYINR yesterday, however buy strategy given around 64.60-64.65 was not initiated as pair witnessed gap up opening at 65.52 compare to previous close of 64.6625. On the EOD chart a high Doji candle stick is indicating for indecisive trend in JPY, further pair would need to trade above 65.70 in order to test 66.00-66.25.else, any rise towards 65.65-65.70 could attract selling activities for the target 65.25-65.00.


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