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Mtechtips
MCX-SX JPYINR INTRADAY trading analysis 18-01-2016
Mtechtips
Recommendation Buy around 57.00-57.10 Target 57.80-58.20 Stop loss above 56.75
(LTP : 57.67) Important factor/data from Japan. All Industries Activity Japanese
Yen witnessed second weekly gain since 27 November 2015 and tested 57.74 before
closing at 57.65. 45 On the other hand, USD/JPY dipped 0.30% as the US dollar
eased from 118.37 and settled at 117.14 after the Bank of Japan Governor,
Haruhiko Kuroda said the central bank is not considering any plans to ease the
monetary policy in the world's third largest economy. Near term trend is
expect to remain positive and a break above 57.75 will expect to show positive
move towards 58.00-58.40 and above.
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