JPYINR pair manage to sustain above upward sloping trend line - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 74.00 levels whereas resistance is placed at 74.50 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 88.40 levels whereas resistance is placed at 88.80 levels. The pair is expected to range bound until either side level is breached
* The GBP/INR futures pair has support at 103.10 levels whereas resistance is placed at 103.80 levels. The pair is expected to range bound until either side level is breached
* The JPY/INR futures pair has support at 66.80 levels whereas resistance is placed at 67.30 levels. The pair is expected to find support at lower levels and trade firm above 67.20 level up to 67.35 and 67.50 levels
CHART OF THE DAY
Strategy: Intraday
* JPYINR pair manage to sustain above upward sloping trend line
* The pair is likely to trade with positive bias and any pullback near immediate support of 66.80 level should be taken as buying opportunity targeting 67.20 – 67.35 levels on higher side
* For Intraday session, it has support at 66.80 – 66.65 levels whereas resistance is placed at 67.20 – 67.35 levels
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