Yen inr future chart technical analysis
Yen rupee future of December expiry on last trading session closed at 63.78 with huge gain on short covering as well as value buying from lower levels. Yen rupee future recovered from December low of 61.65 to 63 means almost 1.35 or 2% plus recovery rally in last week. For December, 63 is major support for yen, above it expect bullish trend and price breakout for 64.3 and then possibly 67+. And yen hit 64.3 target in last session and now traders must watch for big next move and target zones of 67+ in upcoming weeks.
On daily chart, yen rupee future indicators are overbought so expect some correction and consolidation ahead and then big move towards upside targets. 63 rupee will remain as make or break support level for yen future.
On weekly chart, yen has strong weekly support around 63.65 rupee levels and above it expect medium term target of 66.3 rupees.
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