The JPY/INR futures pair has support at 55.20 levels whereas resistance is placed at 55.60 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 82.90 levels whereas resistance is placed at 83.20 levels. The pair is expected to find support at lower level and trade firm above 83.20 level up to 83.30 and 83.40 levels
* The EUR/INR futures pair has support at 90.00 levels whereas resistance is placed at 90.60 levels. The pair is expected to range bound until either side level is breached
* The GBP/INR futures pair has support at 103.40 levels whereas resistance is placed at 103.80 levels. The pair is expected to find resistance at higher level and trade weak below 103.40 level up to 103.20 and 103.00 levels
* The JPY/INR futures pair has support at 55.20 levels whereas resistance is placed at 55.60 levels. The pair is expected to find resistance at higher level and trade weak below 55.20 level up to 55.10 and 55.00 levels
CHART OF THE DAY
JPYINR (DAILY CHART)
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 55.60 level should be taken as selling opportunity targeting 55.20 – 55.10 levels on lower side
* For Intraday session, it has support at 55.20 – 55.10 levels whereas resistance is placed at 55.60 – 55.70 levels
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