yen rupee future technical target at 56.5 and then 57.5


Yen rupee Sep expiry future today closed at 55.36 with loss for the day. On daily chart yen is still in uptrend and trading above major short term averages with bullish price pattern and continuation pattern on indicators.
Jpy inr future 1 week price trend is down and prices testing support levels while month, 3month and 6-month price trend is bullish and after correction, yen might resume its uptrend.
For short-term traders, 54.8 and 54.5 are support zones while 55.65 and 56.2 are resistances. Traders can buy yen future around support with stop loss for target 56.5 to 57.5 in short to medium terms.
For tomorrow, jpyinr future support is 55.3 and then 54.5 while on upside 56.05 will remain as strong resistance as well as target zone.

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