Jpy inr future on last trading session closed at 56.71. Yen rupee future after opening weak in month of July, continued downtrend and hit lower targets of 57.3 and below it next target was 56.65 which also hit by this currency pair.
Yen rupee pair now looking oversold on daily chart. if sustain above 56.6 bottom then expect upside levels up to 57.3 and then 58.25 on short covering as well as value buying. If breaks below 56.65 and sustain below it then expect downside up to 55.8 and then 55.1 on super bearish trend.
From long term view, yen rupee currency future hit previous bottom level of 56.6 and below it my next targets are around 55 and 54 rupee levels if slips below this level on weekly closing basis.