Jpy inr weekly-reversal rally hit target 57.1 and 58.35

Yen rupee future weekly technical analysis report for 22 to 26 may 2017

Yen rupee future weekly technical analysis report for 22 to 26 may 2017

Jpy inr future this week closed at 58.06 with big gains on strong reversal as well as sharp short covering rallies. Yen on bearish side hit low at 57.48 and then triggered reversal rally on trump news. Sharp moves hit upside swing targets of 57.1 and 58.35 in no time.   Yen rupee future is now in uptrend and heading higher for bullish swing targets. For next week, above 57.65 on daily closing basis yen will remain strong and buy for targets 58.35 and then 58.8 while above 58.35 next major bullish swing target will be at 59.25.   From long term view, yen rupee future opened bearish in 2017 and now showing strong reversal signs for long term recovery target of 61.

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