JPY INR daily chart technical analysis
JPY INR spot pair on last trading session closed at 59.57 with loss. On daily chart, yen-rupee price trends and momentum both are bearish. Yen is trading below all short-term averages and with bearish divergences on indicators. For next week, JPYINR pair support zones are 59 and 58.4 while on upside expect strong resistances at 60 and 60.45. 60 is its 1-month average level while 60.45 is its 3-month average. Daily chart indicators are off the lows but still with bearish divergences.
Here traders above 59 keep buy on dips view and expect technical bounce back up to 60 and 60.5 rupees in next week.
JPY INR weekly chart technical analysis
JPY INR spot pair this week closed with loss. This week yen-rupee hit high at 60.33 while low was at 59.41. Total 90 paisa or 1.5% weekly swing and closed with loss. On weekly chart yen is in downtrend against, Indian-rupee with bearish divergences on indicators.
From medium to long-term view, JPYINR support zones are 58.5 and 56 rupees while on upside 61.2 and 64 are strong resistances. As indicators are off the lows, traders expect recovery for yen in upcoming time and above 58.5 keep buy on dips view for targets 61.2 and above.