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Published on 12/12/2019 11:13:57 AM | Source: Choice Broking Pvt Ltd

We expect bearish move in JPYINR towards 65.22 level - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

* The USDINR closed on a flat note during the last trading session.

* But, the price has been trading below its Ichimoku Cloud which signifies bearish presence in the counter.

* Moreover, the price has been trading below its Parabolic SAR which indicates power to the bears.

* Additionally, momentum indicator MACD has been moving in a negative crossover, which indicates that the bears are in control.

* Hence, we expect sideways to bearish move in USDINR future towards 70.87 level.

 

JPYINR

Technical View:

* During it’s previous session JPYINR faced pressure and closed on a negative note by 0.19%

* Also, the pair has sustained below its Ichimoku Cloud which indicatesthat the bears are in control.

* Furthermore, the price has remained below its 20*50 EMA which is weak for the counter.

* Additionally, momentum indicator Stochastic (6) has been moving in a negative crossover which indicates bearishness in the counter.

* So based on the above technical structure, we expect bearish move in JPYINR towards 65.22 level.

 

GBPINR

Technical View:

* In the last trading session, GBPINR faced pressure from the upper levels and fell by 0.31%.

* Also the pair has faced resistance near its upper Bollinger Band which signals that the bears have entered the counter.

* Moreover, the Heikin Ashi candle of the pair has made a series of red candle which signals weakness in the counter.

* Additionally, momentum indicator Stochastic (6) has been moving in a negative crossover which indicates bearishness.

* So based on the above technical structure, we expect bearish move in GBPINR future towards 93.15 level.

 

EURINR

Technical View:

* The EURINR closed flat by -0.06 % during its previous trading session.

* But, on the daily timeframe, the pair has started trading below its Parabolic SAR which signals bearish strength in the counter.

* Moreover, the pair has broken down of its Ichimoku Cloud which signifies bearish momentum in the counter.

* Additionally, the counter’s Heikin Ashi candle has made a series of red candles which indicates weakness.

* So based on the above technical structure, we expect a bearish move in EURINR towards 78.53 level.

 

 

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