Mtechtips MCX-SX JPYINR WEEKLY trading analysis 28-05-2015
Mtechtips YEN-Indian Rupee futures is trading at 52.03 with loss. on daily chart, yen is trading below short term averages with strong bearish sell signals on indicators. on upside 52.8 is 3 month average and above it 53.05 is 1 month average resistance. daily chart, Japan YEN-Indian Rupee futures MACD is below zero with bearish divergence. RSI is at 39 with sell signal and CCI is –141 and looks oversold.Japan YEN-Indian Rupee futures this week closed with loss. this was second weekly loss for this Japanese currency. this week, Japan YEN-Indian Rupee futures high was at 53.35 while low was at 52.47. total almost 90 paisa weekly range or 2% downside move from top. weekly chart price and momentum both are down suggesting lower levels in upcoming weeks.for next week, Japan YEN-Indian Rupee futures traders keep bearish view with strict stop loss above 53.2 for targets 52.3 and below it next target will be 50.95. as indicators are entered in oversold area traders must keep tight stop loss for every short positions.
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