JPYINR 4h time frame. thought process.

JPYINR 4h time frame. channel toped. wait for a consolidation pattern to form. chances are that it will retrace 50% 61.8% fib level after a huge move. it might happen that if it create bull flag and channel brokeout too. that's why we have two conviction looking 4h rsi is at extremily overbought zone.

Commento:

Waha! this is disasterous. it did brokeout the parallel channel. three days move from 0.63167 to 0.66493 huge move.

following Indian equity market disaster Indian currency pairs will act same.

Commento:

Hi, I just published a new idea on USDINR do check there's a interesting story.