nse jpy inr future weekly forecast for 14 to 18 sep 2015

NSE yen rupee future this week closed with heavy loss at 55.31. This week yen hit high around 56.4 while low was at 54.9. Total 1.5 rupee or 3% weekly range and closed with heavy loss on strong profit booking as well as fresh weakness in yen. This was first losing week for yen after last 4 weeks monstrous gains.
Yen rupee future weekly chart price trend is bullish but momentum is turning weak on profit booking and looks like yen topped out on weekly chart.
For next week yen rupee future support zones are 54.5 and then 53.5 while on upside 55.5 and 56.4 are strong resistances.
For next week yen trading strategy will remain sell on rise with stop loss above 56.4 while on downside 54.5 and below levels will be target zones.

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Pramod Baviskar

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