JPYINR rolling in a falling trend channel and created a small H&S in the 4h time frame. Target 67 and 65 till April month expiry. Reasons: 1. JPYINR rolling through a falling trend channel. 2. Price created a small H&S in the 4h time frame. 3. Indian Equity market doing nice recently.
TREND ANALYSIS & TRADE SETUP Follow Chart Instruction. Do not be Hurry for entry. Wait for Proper Entry Setup. Buy/Sell with Best Risk Reward. Educational Chart Only. You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX. Wait for entry setup, if available then Long/short. R:R is 8 to 12 times.
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.
JPYINR has broken down on greater volumes. SELL JPYINR below 0.61100 with Stop-loss of 0.61400 and Target of 0.58990
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.
JPYINR the pair has been trading in down trend and approaching bearish channel resistance, it seem to go further upside up the resistance which is around 0.61770, traders may enter long in this pair at cmp with a target mentioned.