JPYINR pair traded with mild 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 83.30 levels whereas resistance is placed at 83.60 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 89.80 levels whereas resistance is placed at 90.30 levels. The pair is expected to find support at lower level and trade firm above 90.30 level up to 90.50 and 90.70 levels
* The GBP/INR futures pair has support at 104.60 levels whereas resistance is placed at 105.00 levels. The pair is expected to find support at lower level and trade firm above 105.00 level up to 105.20 and 105.40 levels
* The JPY/INR futures pair has support at 57.40 levels whereas resistance is placed at 57.70 levels The pair is expected to find support at lower level and trade firm above 57.70 level up to 57.90 and 58.00 levels
CHART OF THE DAY
JPYINR (DAILY CHART)
Strategy: Intraday
* JPYINR pair traded with mild negative bias in the last trading session; but prices are trading below downward trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 57.40 level should be taken as buying opportunity targeting 57.70 – 57.90 levels on higher side
* For Intraday session, it has support at 57.40 – 57.20 levels whereas resistance is placed at 57.70 – 57.90 levels
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