jpy inr weekly technical analysis 16 to 20 may 2016

jpy inr weekly technical analysis 16 to 20 may 2016 NSE jpy inr future this week closed at 61.47 with loss. On weekly chart yen price trend Is bullish but momentum is losing out as profit booking seen on higher levels.   Jpy inr future almost achieved my upside tgt of 63.3 with a high around 63.1. On downside 61.2 is support and below it expect weak yen means downtrend for yen rupee future.   Below 61.2 my tgts are 60 and then 58 for upcoming weeks. But if sustain above 61.2 then expect again levels up to 63.35 and then 64.5.   Global market turmoil might trigger strong yen which will be bad for all markets!!

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Pramod Baviskar

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