yen to rupee daily chart technical outlook
yen to rupee spot pair last closed at 53.13 with loss on daily chart.on daily chart yen is continues its bear market and trading at new lows against rupee.on chart 53.5 is week average and first resistance on upside above that 54.38 is month average and 56.1 is 3 month average and last resistance on chart.on indicators side jpyinr cci level is –178 and hovering in oversold zone while rsi is at 34 and trending down.
yen to rupee weekly chart technical outlook
yen to rupee pair this week closed with deep cut and at new lows.this week jpyinr made high at 54.1 while low was 53.08.total 1+ rupee move and continuation of bear market.on downside expect supports as well as targets at 52 and then 48 in medium terms.all major average way above in 59-61 levels range.on indicators cci once gain trending towards –200 while rsi is near 30.
yen to rupee predictions for 20 to 24 may 2013
for next week below 53.5 on closing basis hold short view and expect 52.5 to 52 as downside targets.below 52 next major target will be 48.trend and momentum is very weak for yen.
from medium to long term view,below 58.5 remain sell on rise and expect 52 and then 48.in worst conditions 39 will be final target on this bear market of yen if rupee holds fundamentally.at current level hold upside short,fresh shorts are not suggested from longer term view.