TECHNICAL Impact
USD INR (JAN– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 54.0300 with a SL 54.1700 possible targets of 53.6700/53.5500/53.4300.
EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.2325 with a SL 72.3300 possible targets of 72.1200/72.1025/71.9200.
OR
Buy above 72.3300 with a SL 72.2325 possible targets of 72.4325/72.5700/72.7000.
Currency Headlines
Yen is gathering momentum before BOJ meet.
Yen is gathering momentum for an either side movement before Bank of Japan meet which might come up with strict reform to support their tumbling economy. One-week implied volatility on the dollar-yen rate, derived from option premiums, reached 16.9 percent, the highest since August 2011. It jumped 26 basis points to 16.54 percent. The yen touched 90.21 per dollar, the weakest since June 23, 2010, before trading at 89.93, 0.1 percent below the close yesterday. It sank as much as 0.4 percent to 120.71 per euro, the lowest since May 4, 2011. The European currency was at $1.3381 after climbing 0.7 percent to $1.3376.
USD INR (JAN– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 54.0300 with a SL 54.1700 possible targets of 53.6700/53.5500/53.4300.
EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.2325 with a SL 72.3300 possible targets of 72.1200/72.1025/71.9200.
OR
Buy above 72.3300 with a SL 72.2325 possible targets of 72.4325/72.5700/72.7000.
Currency Headlines
Yen is gathering momentum before BOJ meet.
Yen is gathering momentum for an either side movement before Bank of Japan meet which might come up with strict reform to support their tumbling economy. One-week implied volatility on the dollar-yen rate, derived from option premiums, reached 16.9 percent, the highest since August 2011. It jumped 26 basis points to 16.54 percent. The yen touched 90.21 per dollar, the weakest since June 23, 2010, before trading at 89.93, 0.1 percent below the close yesterday. It sank as much as 0.4 percent to 120.71 per euro, the lowest since May 4, 2011. The European currency was at $1.3381 after climbing 0.7 percent to $1.3376.
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