JPY/INR may rise 35 - 53 pips

0.5678 is our pivot point.

Our preference

Rebound towards 0.5755.

Alternative scenario

Below 0.5678, expect 0.5648 and 0.5631.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (0.5699) but below its 50 period moving average (0.5707).

Supports and resistances

0.5790 **

0.5772 *

0.5755 **

0.5737

0.5702 last

0.5689

0.5678 **

0.5648 *

0.5631 **

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