Rupiah Tends to Weaken: Analyst
Bina Artha Securities research director Reza Priyambada said that the rupiah tends to weaken in todays trading. As in the previous movement, weaker [currency] will be followed by another weak movement. The rupiah will move in varying degrees and tend to weaken, Reza Priyambada said via text message on Thursday, March 23, 2017. Reza predicts the rupiah will move to around a support level of Rp13,360 and a resistance level of Rp13,308. According to Reza, the rupiahs gain will slow down by mid-week. Weaker US dollar has led to appreciating value of Japan yen to a significant degree but it has also provided an alternative for transactions. As a result, the demand for yen has increased. Moreover, stronger rupiah in the past few days has been followed by profit taking, which has weakened the currency. Source : Tempo.co March 27, 2017

 
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   Last Updated :24 Nov 2017 - 04:56 PM
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