Mtechtips MCX-SX JPYINR INTRADAY trading analysis 21-06-2016
MTECHTIPS Yen settled almost flat on Monday as safe-haven bets for yen plunged on waning fears of United Kingdom’s exit from the European Union.JPYINR consolidated around 64.50-64.60 levels and settled at 64.41, almost flat. On the EOD chart formation of high wave candle stick is indicating for trend reversal may take place very soon. On the upside, strong resistance is seen at 64.95 which coincide with previous swing high and further upside move will expect to come above these levels only.Buy above 64.98 Target 65.35-65.55. Stop loss below 64.85.Or Risky traders may sell with stop loss above 64.96 Target 64.55-64.30.