JPYINR
- As per previous report published on JPYINR , currency failed to sustain above its bullish breakout out , gave a small up rally and then after it is on free fall. (Click here to see previous report published on JPYINR).
- Now current chart indicates that JPYINR is on free fall after breaking its strong trend line support zone which was around 59.25, and so far made a low around 57.50. As shown in chart no1.
- Suggested Reading - USDINR trying to come out from its up channel formation, close watch currency may favor bears.
- As per graph no2 , JPYINR will now find strong trend line support which is its previous bottom around 59.22, If JPYINR closes below 59.22 and stays below then further weakness is expecting for next few trading days.
- Intraday trading - Close watch once currency starts trading below 59.22 during trading hours, if stays below 59.22 then further weakness is expecting.
- As per graph no3, JPYINR is moving in down channels as long as it is in down pattern bears will be favored but once currency comes out from it down channel and breaks it on upper side then JPYINR will show first sign of strength.
- Suggested Article - What Is Nifty futures.
- As per technical chart no4, JPYINR major indicator "RSI" has now entered is oversold zone, as long as it stays below level 30 their will a sign of caution for bears and JPYINR may see some bounce back. Close Watch.
- Click here to see all the forecast (trading tips) reports published by us on JPYINR.
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