JPY/INR may rise 16 - 25 pips

Our pivot point is at 0.5277.

Our preference

As long as 0.5277 is support look for 0.5314.

Alternative scenario

The downside breakout of 0.5277 would call for 0.5263 and 0.5255.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5284 and 0.5276).

Supports and resistances

0.5330 **

0.5322 *

0.5314 **

0.5305

0.5289 last

0.5282

0.5277 **

0.5263 *

0.5255 **

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