JPYINR to move down in coming trading sessions....

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JPYINR is negatively poised as it moving in a down ward sloping channel. The currency pair is forming lower high and lower low from November 2012.

Prices were hovering near the resistance of upper trend line of falling channel on Friday. It opened negative after facing the resistance and made a low of 63.60 level.

As per wave perspective, prices are moving in a double zigzag pattern (a-b-c-x-a-b-c). Currently prices are moving lower in the form of wave c.

In short, our bias for JPYINR continues to be negative as far as prices are moving in a downward sloping channel.

Comments

Phani Kumar said…
Hey, thanks for the information. your post s are informative and useful.
Cement Stocks
Short Strangle
9 August 2020 at 16:25
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