Jpy inr future December 2016 outlook

Jpy inr future December 2016 outlook

Jpy inr oversold targets 58.65 and 56.3

Yen rupee future on last trading session closed at 60.07 with heavy loss. Jpy inr future is in downtrend and momentum is strong bearish for yen. Yen has given strong breakdown at 62.25 and below it remain weak and sell on rise. On downside for month of December 2016, my jpy inr future positional targets are 58.65 and 56.3. Yen already technically oversold on daily chart but last session move was fresh breakdown on short selling.   Weekly closing above, 62.25 means reversal signal and buy on dips trading strategy for yen. On reversal, yen rupee will trend higher towards targets of 64.7 and 68 rupees in December.   Yen rupee future weekly chart is bearish and suggesting this long term correction phase might continue on downside towards my targets 59.55-57.32 and 54.2.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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