JPY INR weekly analysis for 23 to 27 may 2016

JPY INR weekly analysis for 23 to 27 may 2016 NSE jpy inr future this week closed at 61.24 with loss. This was second weekly loss for yen.   Yen after touching highs of 63.1 coming off on account of correction and which might turn into downtrend again. Below 61.2 expect downcycle for jpyinr pair.   For next week, jpy inr future outlook is bearish below 61.2 rupee level. On downside 60.4 and 60.15 are support zones as well as tgts. On upside 61.8 and 62.25 are resistances as well as fresh short entry zones.   From long term view, yen might be topped out and heading for corrective tgts 59 and 57.

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