JPYINR pair traded with positive bias in the last trading session - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 833.00 levels whereas resistance is placed at 83.30 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 90.50 levels whereas resistance is placed at 90.80 levels. The pair is expected to find resistance at higher and trade weak below 90.50 level up to 90.40 and 90.30 levels
* The GBP/INR futures pair has support at 105.80 levels whereas resistance is placed at 106.10 levels. The pair is expected to find resistance at higher and trade weak below 105.80 level up to 105.70 and 105.60 levels
* The JPY/INR futures pair has support at 55.00 levels whereas resistance is placed at 55.30 levels. The pair is expected to find resistance at higher and trade weak below 55.00 level up to 54.90 and 54.80 levels
Strategy: Intraday
* JPYINR pair traded with positive bias in the last trading session; but prices are trading below downward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 55.30 level should be taken as selling opportunity targeting 55.00 – 54.90 levels on lower side
* For Intraday session, it has support at 55.00 – 54.90 levels whereas resistance is placed at 55.30 –55.40 levels
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