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FxWirePro: USD/JPY uptrend loses steam, remains on bullish path 
- USD/INR is currently trading around 72.05 marks.
- It made intraday high at 72.20 and low at 71.90 marks.
- Intraday bias remains bullish till the time pair holds key support at 71.68 mark.
- Key resistances are seen at 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.68, 71.40, 71.22, 70.80, 70.64, 70.47, 70.32, 70.10, 69.76 and 69.48 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- India’s NSE was trading 0.60 pct lower at 11,980.25 points and BSE sensex 0.55 pct lower at 40,653.40 points.
We prefer to take long position on USD/INR around 72.00, stop loss at 71.70 and target of 72.42/72.68 mark.
