Prices of JPYINR are following clear downtrend with lower low, lower high formation pattern on daily timeframe - GEPL Capital
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Chart for the day
JPYINR (Daily) - 57.72
Observation
* Prices of JPYINR are following clear downtrend with lower low, lower high formation pattern on daily timeframe, which indicates bearish undertone.
* Prices gave a gap down opening in latest trading session and managed to close on negative note.
* The gap was created with high volumes, which confirms the downtrend.
* RSI plotted on daily timeframe has sustained below 50 mark, indicating bearish momentum.
Inference
* Sell below 57.47 Target 56.8 SL 58.17
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