JPY/INR may rise 38 - 57 pips

0.5717 is our pivot point.

Our preference

The upside prevails as long as 0.5717 is support.

Alternative scenario

Below 0.5717, expect 0.5685 and 0.5666.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.5712 and 0.5682).

Supports and resistances

0.5838 **

0.5818 *

0.5799 **

0.5780

0.5742 last

0.5730

0.5717 **

0.5685 *

0.5666 **

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