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Published on 12/03/2018 10:14:36 AM | Source: Choice Broking Pvt Ltd

JPYINR has started the day on negative note and extended the losses of around 0.5% on Friday - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

USDINR opened on positive note and moved higher on Friday. Overall, USDINR has sustained above the falling trend line and moved within the channel formation.

Furthermore, momentum indicator RSI (14) reading is at 64.23 levels and MACD is in bullish trend with positive crossover on daily chart.

On the above technical studies & parameter, we are expecting upward move in the price towards 65.50 levels.

JPYINR

Technical View:

JPYINR has started the day on negative note and extended the losses of around 0.5% on Friday.

Overall, JPYINR has given falling wedge breakout on weekly chart; which intimate near term trend will remain bullish.

Furthermore, MACD has moved above zero line with positive crossover.

On the above technical studies & parameter, we are expecting bullish move towards 61.50 levels.

GBPINR

Technical View:

GBPINR has started the day on negative note and continue the rally on downside for the day.

Overall, GBPINR has been moving in channel formation; where pair has been moving near the lower line of channel formation, which indicate immediate support level for the pair.

In addition , MACD has shown positive crossover.

As per the above technical structure, we are expecting bullish movement in the prices towards 90.60 levels.

EURINR

Technical View:

EURINR has been moving in rising channel formation; where pair has traded near the lower line of the formation; which could be a immediate support for the prices.

Moreover, RSI has turned back from overbought zone; which intimate bearishness in the pair for near term.

Furthermore, MACD has also shown negative crossover on daily chart.

Based on the above technical studies or indicator, we expect bearish movement in the prices towards 79.90 levels.

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