JPY/INR may rise to 0.5549 - 0.5655

Our pivot point stands at 0.5182.

Our preference

Rebound towards 0.5655.

Alternative scenario

The downside breakout of 0.5182 would call for 0.5003 and 0.4897.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5356 and 0.5430).

Supports and resistances

0.5868 **

0.5761 *

0.5655 **

0.5549

0.5330 last

0.5252

0.5182 **

0.5003 *

0.4897 **

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