Mtechtips MCX-SX JPYINR INTRADAY trading analysis 21-09-2015
Mtechtips JPYINR September Future – Bullish unless give break below 54.70 levels Recommendation Buy around 55.00-55.10 Target 55.60-56.10 Stop loss below 54.75 (LTP : 55.07) Or Sell below 54.74 Target 54.20-53.80. Stop loss 55.08. Important factor/data from Japan. Tokyo Core CPI y/y on 25 September Japanese Yen not performed well last week and settled slightly down by 0.17%. Bank of Japan kept its interest rates unchanged and maintained the policy of buying assets at an annual pace of 80 trillion yen to spur inflation and growth. The weekly chart indicates Doji candle stick with conviction of four consecutive week consolidation above the 54.75 levels. This week a closing below the 54.75 levels only could result decent fall towards 54.00-53.70 and below else consolidation above 54.75 will expect to continue towards target 56.10 and above.