JPY INR outlook for 3-7 March 2014

JPY INR outlook, weekly forecast, price analysis, technical analysis,charts and tips for 3 to 7 March 2014.

JPY INR daily chart technical analysis

JPY INR spot on last trading session closed at 60.66 with loss. On daily chart, yen price trend is bullish but momentum is on correction side. Prices are near major averages with mixed signal from indicators.

For next week, 60.5 is major level to watch on closing basis. Below it, expect downtrend while above it keep buying view for yen. For next week, JPY INR support zones are 59.8 and then 59 while on upside expect strong resistances at 61 and 62.2.

Above 60.5 keep long view for pair, as yen is turning stronger against US dollar, it can be expected here.

JPY INR weekly chart technical analysis

JPY INR spot this week closed with gains. This week JPY/INR low was at 60.35 while high was at 77 paisa or 1.5% weekly swing in prices and closing with gains.

On chart, JPY/INR is trading below its all medium to long-term averages but indicators signaling strong recovery momentum so expect bullish breakout ahead.

On downside, JPY/INR support zones are 59 and 58.2 while on upside 61.2 and then 62.2 are strong supply zones and targets if recovery continues.

The Author

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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