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Aussie Retreats Against the Yen: AUDJPY Bears Target 108 as 110 Resistance Holds Firm 
- USD/INR is currently trading around 66.50 marks.
- It made intraday high at 66.67 and low at 66.48 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 66.78 marks.
- Key resistances are seen at 66.92, 67.16, 67.28, 67.52, 67.71, 67.84, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
- On the other side, initial supports are seen at 66.48, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.21, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.33 percent higher at 8,751.50 points and BSE Sensex was trading at 0.31 percent higher at 28,389.38 points.
We prefer to take short position in USD/INR only below 66.48, stop loss at 66.78 and target of 66.21/66.10.
