Jpy inr weekly-bullish breakout targets 65.45 and then 67+

Jpy inr weekly-bullish breakout targets 65.45 and then 67 Yen rupee weekly technical analysis 7 to 11 November 2016 Jpy inr future this week closed with strong gain at 65.04. This week we almost saw 2 rupee or 3% plus gains for yen against rupee. Yen given strong reversal from oversold zone and heading higher.   Yen rupee future given bullish breakout at 64.55 and heading towards my targets 65.45 and then 67+. Last breakout was strong on price action as well as volume. Positional currency traders above 64.55 keep buy and accumulate view on jpy inr future with stop loss below 64 for target 65.45 and above 65.45 expect upside up to 67+.   From long term view, yen rupee pair is in super bullish trend above 64.9, sky is the limit for this pair. But expect minimum targets of 67 and 69 which was previous tops on long term charts.

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Pramod Baviskar

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