This Week JPYINR - Outlook : 02.12.2019
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* After two weeks of positive move last week, JPYINR pair witnessed sharp sell off after opening on a flat note at 66.05 and tumbled till the low of 65.36 and later it reclaimed slight and settled at 65.74.
* JPYINR pair has once again retested the ascending trend line support and reverted back from the same. As pair is strongly holding above the trend line therefore, the positive trend still remains intact. Going forward, JPYINR pair may re-bounce from the current levels and could head till 66.80 then 67.60 on immediate basis.
* The momentum indicator RSI (14) has been on downward note for last few weeks and stochastic
indicator has slipped into oversold zone indicating chances of re-bounce.
* For the week, the trend line support of 65.00 will hold a key level and we expect JPYINR pair to re-bounce from current levels and recommend buying around 65.40 mark.
* JPYINR pair has once again retested the ascending trend line support and reverted back from the same. As pair is strongly holding above the trend line therefore, the positive trend still remains intact. Going forward, JPYINR pair may re-bounce from the current levels and could head till 66.80 then 67.60 on immediate basis.
* The momentum indicator RSI (14) has been on downward note for last few weeks and stochastic
indicator has slipped into oversold zone indicating chances of re-bounce.
* For the week, the trend line support of 65.00 will hold a key level and we expect JPYINR pair to re-bounce from current levels and recommend buying around 65.40 mark.