JPYINR is currently trading near a very strong support zone of 0.6980. The 100 days EMA , the golden fibonacci ratio of 61% and the trend line has supported the price on multiple occasions previously and now again the prices have come near the support zone . So if history is any guide, then we can expect an upmove from this level for the targets of 0.7145 which is also approx 78% fibonacci level and has acted as a major resistance previously.
As far as the SL is considered than, put it right below the support level i.e 0.6980, you can adjust it depending upon your risk appetite. However, i won't suggest you to do so. Also, it's a very good RR trade so make sure to grab it.
As far as the SL is considered than, put it right below the support level i.e 0.6980, you can adjust it depending upon your risk appetite. However, i won't suggest you to do so. Also, it's a very good RR trade so make sure to grab it.