Bullish Bat In JPYINRBullish Bat In JPYINR
Buy PRZ - 0.56440/0.56738
SL - 0.55456
Target - 0.59149/0.60
Jpyinrtrendanalysis
Head & Shoulders Bottom in JPYINR 4HJPYINR currency spot pair has formed a head and shoulders bottom on the 4H time frame. The price broke out of the resistance line today. It would make sense go long on a retracement back to the trendline for a measured move target of 0.60 on the spot pair.
JPYINR - FOR BUYBreak of downtrend channel
Break of previous resistance area
Area of resistance may act as a support now
Risk to reward excellent
Jpyinr 4h. After a pullback to 71then drop bellow today's low to 68.50 noted.
Reasons:
1. Rsi divergence
2. Price closing lower low
3. Price following a downward slope parallel channel
4. There's a 50 and 618% retracement at 70.80
JPYINR 4H. looking clean for a short setupJPYINR 4H. looking clean for a short setup.
Reason:
1. I'm already in.
JPYINR 4h time frame, Target 67 and 65 April month expiry.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.
JPYINR 4h time frame. thought process.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.
