31 Jul 2020 ● 07:11 AM
JPYINR completed a long triangle formation and we are breaking out of it above 71.30. Triangle breakouts give strong rallies. now either the Yen goes up a lot or the rupee down or both. The Yen has not particularly risen against the dollar much so far so maybe it is about time. Now just using the equality principle we can get a move that is up to the top end of the channel as wel near 79.45. This is a weekly chart and it can take weeks to months for this to play out.