USDJPY & India Nifty Connection-- Looks bullish till 111.45

2 thg 6, 2016

USDJPY-- Sustainable move above 109.15 ---pair looks bullish till 111.45- which is previous high....One should put strict stop loss below 108.20 or look to buy in the zone 108.50--108.90 with slightly below 108.20.

The rally which started from 105.55 has crossed 110.65 which key level before it had severe fall on 28th April 2016-taking out that low & falling till 105.55.

Intermarket relation plays such an important role that trader should keep a tab on financial instruments which can give clue. USDJPY taking U-turn could help --India Nifty & Asian Markets from falling further as expected by majority...Well, having said that today we got Bank Nifty -Explosive Call ( As per comment section-2:00 pm -2nd June 2016---Bank Nifty complex correction ends at 17430's ---Boom...........Up..Up...& Away....It zoomed to 17600 & Nifty zoomed 70 points from 8150--8160 (Suggested in Nifty Update--8150--8160 strong support zone ....Nifty Touched 8230 ....Double Explosion...Enjoy & Have Fun.

Regards,
Abhishek H.Singh, CMT