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Published on 14/11/2019 11:02:52 AM | Source: Choice Broking Pvt Ltd

We expect bullish move in JPYINR towards 66.43 level - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

USDINR

Technical View:

* USDINR gapped up during it’s Wednesday session and closed positively with a gain of 0.87%.

* On the daily chart the pair is trading above it’s 50EMA and 200EMA. Moreover, the pair is trading above it’s Ichimoku cloud indicating bullish strength in the pair.

* Additionally, a momentum indicator RSI (14) has shown is above it’s 50 level confirming power to the bulls.

* Hence, we expect bullish move in USDINR future towards 72.38 level.

 

JPYINR

Technical View:

* During it’s Wednesday session JPYINR closed positively with a gain of 0.78%

* On the daily chart, the pair has successfully closed above it’s falling trendline.

* Moreover, the pair is trading below it’s 50EMA and 200EMA

* Additionally, a momentum indicator RSI (14) has crossed above it’s 50 level.

* So based on the above technical structure, we expect bullish move in JPYINR towards 66.43 level.

 

GBPINR

Technical View:

* GBPINR gapped up and closed with a gain of 1.05% during it’s Wednesday session.

* On the daily timeframe GBPINR has witnessed a breakout from it’s consolidation pattern.

* On the daily timeframe, the pair has breached above it’s previous swing highs.

* The pair has also sustained above it’s 50*200 days EMA, which is a positive sign for the pair.

* So based on the above technical structure, we expect bullish move in GBPINR future towards 92.93 level.

 

EURINR

Technical View:

* EURINR closed with a gain of 0.63% during it’s Wednesday session.

* On the daily chart, the pair has closed above it’s falling trendline.

* Also, the pair is now trading above it’s Daily 200 EMA which indicates strength in the pair for the near term.

* Moreover, a momentum indicator RSI (14) has breached it’s 50 level which indicates bullishness in the pair.

* So based on the above technical structure, we expect recovery in EURINR towards 79.20 level.

 

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