Buy JPYINR above Target 58.32 59.00 SL 58.0774 - GEPL Capital
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Chart for the day
JPYINR (HOURLY) - 58.30
Observation
* Prices of JPYINR have given a breakout from rectangle pattern in the latest trading session , which indicates bullish undertone of the currency.
* We can witness that the prices are closer to upper Bollinger band where the Bollinger band is expanding which suggest that the volatility in the prices are increasing on the upside.
* The breakout was Followed by the gap and high volumes.
* RSI plotted on hourly timeframe is rising and have sustained above 50 mark( Currently at 66.9), which tells that the prices have strong momentum
Inference
Buy above Target 58.32 59.00 SL 58.0774
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