Mtechtips MCX-SX JPYINR INTRADAY trading analysis 02-06-2016
MTECHTIPS:- Jpy inr future today closed at 61.94. Here strong breakout was seen on price as well as volume. On upside 62.15 and 62.55 are intraday targets while on downside 61.9 and 61.55 are support zones. For next week, jpy inr future below 62.2 remain bearish and sell on rise. On downside yen rupee weekly chart showing support zones at 61 and 60.2 which are tgts for next week.On upside 61.7 and 62.2 are strong resistances as well as fresh short entry zones for yen.Jpy inr monthly chart suggesting topped pattern for yen. So expect weaker yen and downside for jpyinr future. On downside 59.6 and 56 are medium to long term tgts for yen rupee future if holds 63.1 top.