Yen rupee future in month of September, closed at 58.33 with flat gain. This was almost first gaining month for Yen rupee future and in this month Yen rupee future given lot of volatile moves and hit low of 57.26 to high of 59.56 total 2.25 rupee range in month of September.
For month of October, Yen rupee future is trading near breakout level of 58.4 rupee and if gives breakout above 58.4 then expect strong run for targets 59.5 and above. If yen fails to cross 58.4 level then expect sharp selloff and downside in October up to 57.2 to 56.1 rupee levels.
For currency traders, Yen rupee future outlook above 58.4 remain strong bullish and trading strategy will remain buy and accumulate. On upside 59.5 is first target zone and then 60.7 will be next target level. If Yen rupee future fails to give breakout then that will be bestselling opportunity with big downside targets.