JPY INR future weekly : below 59.45 stay short tgts 57.5 and 54

jpy inr future weekly technical analysis for 7 to 11 march 2016

jpy inr future weekly technical analysis for 7 to 11 march 2016

Yen rupee future this week closed with loss at 59.22. Yen looks like topped out after hitting high around 61.5 and now correction is started.   For next week, jpy inr future below 59.45 remain bearish and sell. On downside 57.45 will be first target. Below it 54 will be deep target if yen resumes primary trend in international market.   From long term view, 54 is major support and above it yen will remain strong against rupee. 2016, targets of 57.5 and 59.5 are achieved next targets are at 62 and then 65. 54 will be best long term investing opportunity if found once again.

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Pramod Baviskar

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