JPYINR's three-day chart shows an inverted hammer/inverted pinbar with a positive close plus bullish divergence of the RSI
Good time to go long @ 0.5773 target 0.6120 stops under 0.5740.
The pair has taken support in the lower trendline and looks to reverse and rally.
Target is placed near resistance.
Stop Loss is placed below support zone and lower trendline.
This Pair has reached the lower trendline, this may cause it to bounce back.
Risk Reward Ratio - 3:1
Target is Placed near swing high, SL is Placed below Support Zone
Hi Team!
This is my trade of the week for next week.
It's a clear entry and exit, good confluences, and clear chart patterns.
Currency:
We are expecting JPY strength very soon
We are seeing neutrality with INR
News:
There is no medium or high impact news affecting either currency in the coming week.
Chart:
We are in a clear descending wedge pattern on...
The pair has reached upper trendline and may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the upper trendline. The target is placed near swing low.
Opportunity for quick bucks...
Take long for target upto supply zone.
Major support zone was broken so JPY yen will test this zone again before falling further.
Entry at cmp
Target- supply zone
SL- as per your risk appetite.
JPYINR has been trending in a range since March 2020. Recently, it has been again towards the upper edge of the range channel. But this time, I am bullish biased on this pair. This is mainly because of 2 reasons:
1. There is an upward trendline which it has been respecting and rather it has just touched it again.
2. There has been a support area which it has been...
As published few weeks back, JPYINR is still within the same range, that it has been since last few months.
It touched the lower edge and started again the upward journey.
With the current structure, it probably should reach levels of 72 in next few days.
JPYINR has been range bound for almost 5 months now. Again, it has touched the lowed edge of the range and a critical area to plan the next action.
I personally feel it would bounce up from this point and move again towards 72.00 price range.
The pair seems to be in a 60 min consolidation. Once this consolidation is done and the pattern is completed, it could move Upwards to retest the previous highs. I wouldn't go short at this point but I wouldn't buy either- before the consolidation is done.
Hello everyone here we have a setup based on structure. Wait for price to breakdown the ascending channel and look to short till the 0.5794 area. Stop loss would be above the high after breakdown of the channel
