Yen rupee Currency futures technical analysis for 19 to 23 November 2018.
YEN INR Future Daily Chart Technical Analysis
Yen rupee future of November expiry on last trading session closed at 62.63 with huge loss. Yen rupee future below 64.2 given breakdown and hit next bearish target of 62.9 this week. We saw low of 62.58 this week and yen trading below 62.9 resistance which is bearish signal and super bearish trend for short terms. Below 62.9, yen can continue its downtrend and might show lower levels up to 61.7 and below. But if sustain above 62.9 then expect sharp reversal and upside up to 64 o 65 in short terms. Yen rupee daily chart indicators and oscillators are bearish and oversold.
Yen rupee future weekly chart technical analysis
Yen rupee future on weekly chart showing losses for this week. this was forth losing week for yen and in these 4 weeks yen tumbled from highs of almost 66 to low of 62.6. Means 3.4 rupee or almost 5% plus drop from the top. This week we saw 1.6 rupee loss for yen.
From medium to long term view, yen after hitting all bullish targets now is in correction phase and hit 63.65 target and heading towards long term support of 62.15 and 59.5 rupees. Weekly chart stochastic heading lower towards oversold zones while MACD is below zero with sell signal.
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