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Chart for the day

JPYINR (Daily) - 58.38

Observation

* Prices of JPYINR are following a clear down trending trend line since March 2022. on 12th July 2022 prices gave a breakdown from ascending triangle with a gap.

* Prices have retested triangle pattern and trend line in the latest trading session.

* We witnessed prices taking resistance from the 20 EMA which is acting as a resistance for the prices, which tells the bearish undertone in the counter.

* RSI plotted on daily time frame we can find RSI below 50 mark, currently 45.3. which indicates bearish momentum in the prices.

Inference

Sell below 58.07 Target 57.5 SL 58.57

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