jpyinr daily chart technical analysis
jpyinr spot pair on last trading session closed at 63.63 with gains.here also taken support of 3 month average and holding uptrend.
now trading above week and 3 month average and both remain as strong supports for upcoming time.63.2 is week average while 62.9 is 3 month average level while on upside 63.9 is month average and first major resistance from short term view.above that 65 will be next resistance.
on daily chart cci level is –59 and forming bullish divergence.rsi level at 50 with fresh buy signal on chart.
jpyinr weekly chart technical analysis
jpyinr spot this week closed with gains.this week yen rupee made high near 64.03 while low was near 62.3.total 1.7 rupee week range and showing reversal signs on weekly chart.
on chart all major average are at 61.5 level and remain as strong support from long term view.while on upside 66 and 69 remain as major supply points on chart.
on weekly chart cci level is +71 but with bearish divergence while rsi is sat 54 and with bullish divergence.
jpyinr forecast for 30 sep to 4 oct 2013
for next week,traders keep long view for target 64-65 with stoploss below 62.9.above 65 rally will pick up momentum and sharp short covering is expect above this level.
from medium to long term view,traders and investors can keep buying with stoploss below 61.5 and expect 66 as first target and 69 as second.