JPYINR : Technical View : 02.12.2019
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* During it’s previous session JPYINR prices showed indecision and closed on a flat note by 0.04% for the day.
* Also the pair formed a spinning top candle on the daily chart, As well as it sustained below its Ichimoku Cloud, which confirms bearish bias in the counter.
* Moreover, the price has been trading below the 20*50 EMA, which confirms that the pair is in a downtrend.
* Additionally, momentum indicator RSI (14) has sustained below its 50 level which signals weakness in JPYINR.
* So based on the above mixed technical structure, we expect sideways to bearish move in JPYINR towards 65.54 level.
* Also the pair formed a spinning top candle on the daily chart, As well as it sustained below its Ichimoku Cloud, which confirms bearish bias in the counter.
* Moreover, the price has been trading below the 20*50 EMA, which confirms that the pair is in a downtrend.
* Additionally, momentum indicator RSI (14) has sustained below its 50 level which signals weakness in JPYINR.
* So based on the above mixed technical structure, we expect sideways to bearish move in JPYINR towards 65.54 level.