MohammedJunaid

JPYINR: Buy Above 0.62, SL:0.59, T1:0.63, T2:0.65, T3:0.69

Long
FX_IDC:JPYINR   JAPANESE YEN / INDIAN RUPEE
JPYINR is in strong uptrend in daily charts . Buy only above 0.620 with Stop-loss of 0.590 and Target 1 at 0.636, Target2 at 0.657 and Target 3 at 0.69
This analysis is posted on special request. Any trading done has to be considered only after taking advise from Financial Advisor.

Comments

sir i have shorted it @ 61.26 level due to RSI at 76 in Daily basis ..
so shall i hold or exit with loss
Reply
MohammedJunaid riteshtidke07
@riteshtidke07, Currently its within iChimoku Kumo hence you may hold the short with Stop-loss of 0.62 on day closing basis. If it closes above 0.62, reverse the position and wait for targets.
ADX speaks as of now that the momentum is on positive side. 0.62 is monthly resistance. If it crosses above and closes the day then reverse the position.
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