Mtechtips MCX-SX JPYINR INTRADAY trading analysis 12-08-2016
MTECHTIPS Yen traded range bound on Thursday as dollar appreciated post an upbeat US job openings and labour turnover data. Meanwhile, Japanese markets were closed for the Mountain Day public holiday.JPYINR remained range bound for second consecutive day and settled at 66.09 almost flat. Buy strategy given above 66.20 was not initiated. Near term trend expect to remain positive following to the strong support of previous swing trend line.On the other hand, further correction is expected to come below 65.85 for the target 65.50-65.30.