Yen rupee weekly forecast 17 to 21 March 2014

Yen rupee weekly forecast, predictions,  price analysis, technical analysis,charts and tips for 17 to 21 March 2014. 

Yen rupee daily chart technical analysis

Yen rupee spot on last trading session closed at 60.32 with loss. On daily chart, yen price trend and momentum both are down against Indian rupee, though recovered from lows but as rupee seeing demand from market we may see trend may continue in next week. JPY INR pair is trading below its 3-month average, but closed above 1-month, week averages.

For next week, JPY INR spot resistance levels will be 60.5 and 61.4 while on downside support zones are 59.5 and 58.8. Traders below 60.5 keep bearish view for yen and expect downside targets.

Yen rupee weekly chart technical analysis

Yen rupee spot this week closed with gains on recovery. This week JPYINR low was at 58.65 while high was at 60.6. Total 2 rupee plus swing or 3% weekly volatility and closed with gains as yen recovers in international market. On weekly chart, yen-rupee price trends and momentum both are down. Yen is trading below major average with bearish indicators patterns on chart. On upside 61 and 62.5 are major resistance levels while on downside 59 and 58 are support zones as well as targets if trend continues.

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Pramod Baviskar

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