JPYINR Intraday Outlook : 3.4.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Japanese Yen is trading at 111.28, after making lows of 111.13. The Bank of Japan's "tankan" survey released on Monday showed that large Japanese manufacturers expected the dollar to average 108.43 in the fiscal year that began this month. The tankan also showed that big manufacturers' business sentiment improved for a second straight quarter to hit a 1-1/2-year high in March, a sign the benefits of an export-driven economic recovery were broadening. Risk levels have not been conducive to yen weakening today, while last minute Japan fiscal year repatriation flows were reported though the session. Ongoing divergence between BoJ and Fed policy should keep USD-JPY risk slanted to the upside going forward. Expect 111.50 to act as pivot in near terms.