Mtechtips MCX-SX JPYINR INTRADAY trading analysis 10-03-2016
Thursday, March 10, 2016 0:07
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Mtechtips MCX-SX JPYINR INTRADAY trading analysis 10-03-2016
MTECHTIPS:- Yen traded flat Wednesday ahead of the European Central Bank monetary policy meeting set for Thursday and similar Bank of Japan meeting scheduled for earlier next week.JPYINR witnessed range bound move yesterday and settled at 60.0525, slightly positive. A high wave candle stick formation on EOD chart is indicating for trend reversal in days to come. Strong resistance is seen at 60.10 and a closing above this level could witness bullish rally towards 60.50-60.65 and above. On the downside, a break below 59.15 is expect to show big correction and JPYINR may test 58.80-58.45 very soon.
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