October 27, 2016

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 15-09-2016
MTECHTIPS JPYINR fluctuating in between gain and loss ahead of next week’s Bank of Japan and Federal Reserve policy meetings. Concerns about the policy effectiveness of the world’s major central banks have triggered a steepening trend in bond yields in recent sessions. A downturn in risk sentiment has bolstered the Japanese currency due to its perceived safe-haven status. After hitting a low of 64.93, JPYINR saw pullback and settled at 65.30 levels. Intraday price action resulted in formation of hammer candle stick which is indicating for trend reversal for short time. Further, on the downside immediate support is seen at 64.85 and sustain trade below only will expect to test 64.55-64.30.


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