December 5, 2016

 

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 09-09-2016

MTECHTIPS Yen pare losses during late Asian trade Thursday after Bank of Japan’s deputy governor Hiroshi Nakaso said the central bank would not rule out deepening negative interest rates or any other easing steps needed to achieve its price target.JPYINR traded in between 65.50-65.65 range and settled at 65.5150 levels. Intraday price action resulted in formation of high Doji candle stick is indicating for indecisive trend in JPY. Further pair would need to trade above its immediate resistance 65.70 in order to test 66.00-66.25.Failure of the break could bring correction towards 65.00-64.80.

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