JPYINR pair traded with negative bias in the last trading session - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 82.30 levels whereas resistance is placed at 82.70 levels. The pair is expected to find support at lower level and trade firm above 82.70 level up to 82.90 and 83.10 levels.
* The EUR/INR futures pair has support at 87.50 levels whereas resistance is placed at 88.00 levels. The pair is expected to find resistance at higher level and trade weak below 87.50 level up to 87.30 and 87.10 levels.
* The GBP/INR futures pair has support at 99.00 levels whereas resistance is placed at 99.60 levels. The pair is expected to find resistance at higher level and trade weak below 99.00 level up to 98.80 and 98.60 levels.
* The JPY/INR futures pair has support at 62.40 levels whereas resistance is placed at 62.90 levels. The pair is expected to find resistance at higher level and trade weak below 62.40 level up to 62.20 and 62.00 levels.
CHART OF THE DAY
Strategy: Intraday
* JPYINR pair traded with negative bias in the last trading session; and prices are trading below upward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 62.90 level should be taken as selling opportunity targeting 62.40 – 62.20 levels on lower side
* For Intraday session, it has support at 62.40 – 62.20 levels whereas resistance is placed at 62.40 – 62.60 levels
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