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.
The JPYINR pair seems to be in a daily corrective structure, however the final leg of correction to the upside is still in progress. Any possible pullback could be a short term buying opportunity. A retest of one of the two recent tops is likely.
The price got proper support yesterday and today again in green on daily time frame. We remain bullish and look for long trades in JPYINR. The ATR is falling which means that market movement will be shallow, so keep tight stop loss.
JPYINR making lower low on daily chart. On the 1 Hour timeframe, MACD histogram and stoch has turned weak with second red candle for the day. Time to go short on JPYINR. Maintain stop loss.