JPYINR Intraday Outlook : 6.4.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Japanese Yen is trading at 110.49, rebounding from the levels of 111.47 in yesterday’s session. We have seen Yen depreciating as US dollar was strengthening against majors after better than expected ADP job data and hawkish FOMC meeting minutes was reported. Profit booking at higher levels in US dollar has limited further appreciation and the key reason for this was Trump-XI meet and concerns over trump’s tax reforms which are due since his inauguration. We have seen USD/JPY pair following the footprints of US dollar. We expect demand to come in-between the levels of 110.30-110.15 in USD/JPY pair.