JPY/INR may rise 26 - 38 pips

0.5570 is our pivot point.

Our preference

As long as 0.5570 is support look for 0.5637.

Alternative scenario

Below 0.5570, expect 0.5549 and 0.5536.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5590 and 0.5575).

Supports and resistances

0.5663 **

0.5650 *

0.5637 **

0.5625

0.5599 last

0.5579

0.5570 **

0.5549 *

0.5536 **

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