February 24, 2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 18-08-2016

MTECHTIPS The yen held early Asian gains as trade data showed a wider than expected surplus, though imports fell more than expected highlighting fragile demand even as the currency dipped below 100 to the dollar as investors digested the latest FOMC minutes..JPYINR extended its recent bullish trend and after breaching the resistance 66.20 tested 66.94 before closing at 66.8425.Near term trend expect to remain positive following to the strong support of previous swing trend line and break out of pennant on EOD chart.Further, pair would need to trade above 66.95 in order to test 67.25-67.50, else any dip towards 66.40-66.25 again attract buying activities.




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