Yen rupee future this week closed at 58.07 with loss. This was first negative week for yen after last 2 week’s sharp bounce back. This week yen rupee hit high at 58.37 while week low was 57.91, total 0.5 rupee weekly range and negative closing due to profit booking.
On weekly chart, yen is in downtrend but with recovery side momentum. Trading around 5 and 20 weeks average levels which are at 58.3 while on upside 58.9 is 50 weeks average and strong resistance level. Yen rupee weekly chart, RSI level is 47 and flat and MACD is negative with early topped out pattern.
Yen rupee future opened weak for month of October and we saw low of 57.91 in this week. Below 58.4, yen will remain weak and sell for downside targets of 57.2 and then 56.2 rupee.