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vipulmehta817

Rising Wedge in JPYINR

Short
JAPANESE YEN / INDIAN RUPEE (FX_IDC:JPYINR)  
vipulmehta817 Aggiornato   
FX_IDC:JPYINR   JAPANESE YEN / INDIAN RUPEE
Trend Analysis Chart Patterns JPYINR jpyinrtechnicalchart jpyinrshort Rising Wedge wedgepatterns
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trendanalysis chartpattern jpyinr jpyinrtechnicalchart jpyinrshort risingwedge wedgepatterns
Japanese Yen to Indian Rupee pair (JPYINR) has been forming rising wedge for some time on the Daily time frame. This is also supported by fall in momentum as shown in the RSI.
The pair has rejected bulls for last few days. Conditions look ripe for a fall in price toward wedge target zone of 0.6140 on the JPYINR spot pair. SL may be kept above Friday high, around 0.64.
Trade chiuso: obiettivo raggiunto:
Target reached. Either full profits can be booked, or part profits with rest of the position left running with tight SLs.
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