Short covering area in the box.
INRJPY on a nice short trading setup Also confirmation from RSI bearish divergence.
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.
FX_IDC:JPYINR Enter short upon break below support
FX_IDC:JPYINR WATCH THE LEVELS ON THE CHART !
FX_IDC:JPYINR Making lower low on daily time frame on the Heikin aishi price charts and MACD histogram also showing support. We trade on the short side for the day with proper money management.
FX_IDC:JPYINR 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.
FX_IDC:JPYINR Today on the daily time frame the price has made higher high. MACD histogram also supporting the price action. Stay on the long side.
FX_IDC:JPYINR The pair made lower low on HeikinAishi price chart on Daily timeframe. We maintain short position. On the 1 hour timeframe the price candle is green so maintain stop loss.
FX_IDC:JPYINR 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.
FX_IDC:JPYINR Open in red on daily time frame. Will wait till it goes below 0.6468 (yesterday low) . Will trade only on short side on 1 hour charts.