JPY INR Technical Analysis Chart Trend Forex Forecast Graph Currency Trading signals Tips Strategies Recommendations- JPYINR has formed ascending triangle formation, will favor bull once closes above 59.9175. (Updated On 06th August 2014, Wednesday).

JPY INR

• JPY INR has formed ascending triangle formation in daily chart as shown above in img no1. This indicates when JPYINR comes out from its formation then it will favor bulls, generally in this type of formation we witness sharp moves by bulls. close watch.
• Daily chart also indicates JPYINR is currently facing 50% fibonacci retracement resistance around 59.9175. Once it closes above its resistance and stays above then JPYINR will test its next 61.8% golden ratio fibonacci retracement resistance.
• Intraday close watch when it starts trading above 59.9175, if stays above then can see some intraday action.
• Suggested Reading - USD INR facing strong golen ratio resistance at current levels.
• Technical chart also indicates JPYINR is facing strong 200 days moving average resistance once it closes and stays above then JPYINR to favor bulls.
• And also MACD indicator has turned bullish in JPYINR as shown in image no 3. this also indicates when it closes above its resistance then sharp move is expecting in JPYINR.
• Click here to see all the forecast (trading tips) report published by us on JPY INR.
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