Yen rupee Future daily chart Analysis
Yen rupee future of March expiry on last trading session closed at 63.34 with gain. Yen rupee future in this week given 4 down days and 1 upside closing. On chart yen is in bearish trend and below 64.7 rupee remain sell on rise and on downside 63.6 and then 62.8 were bearish targets and both got achieved. Now bouncing back from oversold zone so expect bounce back from here. 62.7 rupee level will remain as crucial support zone for yen. On upside 63.6 and then 64.7 are resistance as well as target zones for recovery move.
Yen rupee future weekly chart analysis
Yen rupee future on weekly chart showing loss for this week. This was fifth weekly loss for yen. In these 5 week yen tumbled from highs of 65.7 to low of 62.8 rupees. Yen weekly chart price trend is bullish but momentum is fizzled out on profit booking and yen heading towards 62.5 rupee long term support zone. Here investors must watch 62.5 rupee support zone closely. Below it expect long term downtrend and lower levels up to 60 to 58 rupees. Reversal from 62.5 rupees will be best investing opportunity.
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