Buy JPYINR above 58.6325 TGT 1 58.9016 SL 58.4305 - GEPL Capital
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Chart for the day
JPYINR (Daily) - 58.6325
Observation
* Prices of JPYINR had given a break out from inverse head and shoulder on 24th June 2022, post break out prices have sustained above the neckline of the pattern.
* Prices on Hourly time frame in the latest trading session gave a breakout from rectangle pattern with opening gap up
* On hourlt timeframe Prices have retested the rectangle and 20 hours EMA and showed a bounce back in latest trading session
* The breakout has happened with high volumes.
* RSI is Rising and above 50,currently at 62.3, indicating bullish momentum
Inference
* Buy above 58.6325 TGT 1 58.9016 SL 58.4305
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