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Mtechtips MCX-SX JPYINR WEEKLY trading analysis 18-05-2015
Mtechtips MCX-SX JPYINR WEEKLY trading analysis 18-05-2015
Mtechtips Yen rupee future this week closed with loss at 53.09. This week yen high around 53.9 while low was around 53 against rupee. This was first losing week for pair after last 4 weeks gains. On weekly chart, Yen rupee future is trading above major averages but with bearish divergences on weekly chart indicators.Yen rupee future on daily chart, trading below 1-month average and heading towards 3-month average with bearish or corrective pattern on price as well as indicators. For next week, below 53.2 keep short view for Yen rupee future with price targets 52.3 and below.From medium to long-term view, Yen rupee future below 53 may continue its downtrend and may show lower level up to 51.28.
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