jpyinr forecast for 17 to 21 june 2013

jpyinr daily chart technical analysis

jpyinr spot pair last closed at 61.03 with gains.on daily chart yen given sharp rally on its own strength and falling rupee.from 53 rupee to now 62 rupees on chart.almost 9 rupee or 17% rally from bottom.

on daily chart yen trading with uptrend above all short term average.60.2 is week average and first support on downside while 57.5 is month average and 56.7 is 3 month average and last support from short term view.

on daily chart,yen rupee spot cci is +153 and off the highs while rsi is at 73 and still with bullish divergence.

jpyinr weekly chart technical analysis

yen rupee pair this week given sharp rally as yen get strength and closed with heavy 4 weeks from 53 to now 62 and gained 17%.

on weekly chart,trading just above 2 years average of 61.while below this 60.65 is 12 month average and 58.35 is 6 month average.remain as weekly closing above 61 will confirm long term bullish breakout for yen against rupee.

on weekly chart,yen rupee cci is +118 and with bullish divergence.rsi is at 51 and shows fresh long term breakout.

jpyinr forecast for 17 to 21 june 2013

for next week,yen remain to be strong as we seen breakout against dollar for yen.above 60 level support level expect 62 and 63 as short term targets.any profit booking may show 57 or near levels so must keep strict stoploss for all long positions.

from medium to long term view look like heading for bull breakout.on indicators already confirmed only on average side if hold 61 for next week then expect 64 to 66 as target levels in medium terms.

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Pramod Baviskar

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