This Week JPYINR - Outlook : 25.11.2019
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* Followed with penultimate week’s sharp up move, last week JPYINR pair traded in narrow range and finally settled at 66.42 posting minor gains.
* The JPYINR pair has precisely rebounded from the key down ward slanting trend line support and gave positive break out by penetrating the falling wedge pattern. Hence, going forward the up move is likely to continue further in coming sessions till 67.20 then 68.00 levels and supports for the week are placed at 66.00 then 65.40
* The momentum indicator RSI has moved up till 55 mark and stochastic indicator is still on the bearish note and is slipping into oversold zone.
* Hence, for the week, we expect JPYINR pair will continue its bull rally and may extend till 67.30 then 68.00. Therefore, we advice traders to buy JPYINR pair around 66.00 levels for above mentioned levels of 67.30 then 68.00.
* The JPYINR pair has precisely rebounded from the key down ward slanting trend line support and gave positive break out by penetrating the falling wedge pattern. Hence, going forward the up move is likely to continue further in coming sessions till 67.20 then 68.00 levels and supports for the week are placed at 66.00 then 65.40
* The momentum indicator RSI has moved up till 55 mark and stochastic indicator is still on the bearish note and is slipping into oversold zone.
* Hence, for the week, we expect JPYINR pair will continue its bull rally and may extend till 67.30 then 68.00. Therefore, we advice traders to buy JPYINR pair around 66.00 levels for above mentioned levels of 67.30 then 68.00.