December 5, 2016

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 30-08-2016

MTECHTIPS Yen drop more than 1.40% and traded near three-week low on Monday as Federal Reserve Chair, Janet Yellen hinted that the central bank to the world’s largest economy may hike interest rates in near futureAs was expected yesterday JPYINR retraced towards 65.8825 levels and settled at 66.02 compare to previous close of 67.0425. Near term trend expect to remain bearish and pair may test 65.75-65.50 its next support.on the upside, massive resistance is seen at 66.55 then 66.85-67.10.

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