The pair is likely to trade with positive bias and any pullback near immediate support of 58.50 level - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 79.80 levels whereas resistance is placed at 80.30 levels. The pair is expected to trade range bound until either side level is breached.
* The EUR/INR futures pair has support at 81.40 levels whereas resistance is placed at 81.80 levels. The pair is expected to find support at lower levels and trade firm above 81.80 level up to 82.00 and 82.20 levels.
* The GBP/INR futures pair has support at 96.50 levels whereas resistance is placed at 96.90 levels. The pair is expected to find support at lower levels and trade firm above 96.90 level up to 97.10 and 97.30 levels.
* The JPY/INR futures pair has support at 58.50 levels whereas resistance is placed at 58.90 levels. The pair is expected to find support at lower levels and trade firm above 58.90 level up to 59.10 and 59.30 levels.
Strategy: Intraday
* JPYINR pair traded with positive bias and managed to closed above upward slopping support line in the last trading session
* The pair is likely to trade with positive bias and any pullback near immediate support of 58.50 level should be taken as buying opportunity targeting 58.90 – 59.10 levels on higher side
* For Intraday session, it has support at 58.50 – 58.30 levels whereas resistance is placed at 58.90- 59.10 levels
JPYINR (DAILY CHART)
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