YEN rupee Future Daily Chart Technical Analysis
Yen rupee future of December expiry on last trading session closed at 63.26 with gain. Yen rupee future in this week given 4 down days and 1 big upside closing. On chart yen is hovering around 63 rupee major support zone. We saw breakdown below it and then strong recovery also. Below 63 expect bearish short term trend and big downside up to 60.5 rupees. But if sustain above 63 then expect upside levels up to 64.4 rupees again. Volatility will remain high in currency markets on news flow and trading will be not that easy because of both side wide swings. Daily chart indicators are bearish so traders below 63 go short with stop loss and expect targets of 62 to 60.5 rupees.
Yen rupee future weekly chart technical analysis
Yen rupee future on weekly chart showing loss for this week. This was first losing week for yen after last 2 weeks gains. This week we saw low of 62.35 and high was around 63.58 rupees. Means 1.2 rupees range and negative week for yen. Here below 63.65 expect this correction to continue towards 62.15 and 59.5 rupee levels. In longer term we might see 58 rupee levels to yen if correction phase continues.
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