JPY/INR may rise 16 - 24 pips

0.5180 is our pivot point.

Our preference

As long as 0.5180 is support look for 0.5215.

Alternative scenario

Below 0.5180, expect 0.5167 and 0.5159.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.5187 and 0.5182).

Supports and resistances

0.5231 **

0.5223 *

0.5215 **

0.5207

0.5191 last

0.5186

0.5180 **

0.5167 *

0.5159 **

Number of asterisks represents the strength of support and resistance levels.