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JAPANESE YEN / INDIAN RUPEE

JPYINR 4h time frame. thought process.

By Ilikethehell
Updated
JPYINR 4h time frame. channel toped. wait for a consolidation pattern to form. chances are that it will retrace 50% 61.8% fib level after a huge move. it might happen that if it create bull flag and channel brokeout too. that's why we have two conviction looking 4h rsi is at extremily overbought zone.

Note
Waha! this is disasterous. it did brokeout the parallel channel. three days move from 0.63167 to 0.66493 huge move.

following Indian equity market disaster Indian currency pairs will act same.
Note
Hi, I just published a new idea on USDINR do check there's a interesting story.
Chart PatternsHarmonic PatternsJPYINRjpyinrforcastjpyinrpredictionjpyinrtechnicalchartjpyinrtrendanalysisTrend Analysis
Ilikethehell

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