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Published on 23/09/2019 10:34:44 AM | Source: Choice Broking Pvt Ltd

We expect sideways to bearish move in JPYINR (Sep) future - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

* USDINR has crashed more than half percent during the last trading session of the week.

* On the daily chart, USDINR has been falling down from last three trading session and also, moved below lower Bollinger Band formation in last day of the week.

* Moreover, pair has sustained below 21 days Simple Moving Average, which indicates bearish move for near term.

* Furthermore, a momentum indicator RSI (14) and MACD have shown negative crossover, which may force the prices downward.

* Hence, we expect bearish move in USDINR (Sep) future towards 70.60 level.

 

JPYINR

Technical View

* JPYINR has traded lower by 0.5% on Friday session and settled below 66 levels.

* On a weekly chart, pair has retreated from upper Bollinger Band formation and shown correction in last three week.

* Moreover, pair has tested support of falling trendline , which indicates reversal sign for near term.

* However, a momentum indicator RSI (14) is still looking weak with negative crossover, which indicates no further recovery in the prices.

* So based on the above mixed technical structure, we expect sideways to bearish move in JPYINR (Sep) future

 

GBPINR

Technical View:

* GBPINR opened on positive note but fell down by 0.77% from the day high.

* On the daily chart, GBPINR has been moving between two consecutive trendline and facing a resistance of upper Bollinger Band, which act as immediate hurdle for the prices.

* Additionally, momentum indicator RSI (14) and MACD has shown negative crossover, which suggests bearish sentiments for near term.

* So based on the above technical structure we expect bearish move in GBPINR (Sep) future towards 88.30 level.

 

EURINR

Technical View:

* EURINR has slipped down by 0.80% during the Friday trading session.

* On the daily chart, pair has been trading near to lower Bollinger band formation.

* Moreover, price has slipped below 21 days Simple Moving Average, which indicates down trend for near term.

* Furthermore, a momentum indicator RSI (14) and MACD has shown negative crossover on the daily chart.

* So based on the above technical structure, we expect bearish move to be continued towards the level of 78.

 

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