JPY/INR may rise 41 - 61 pips

Our pivot point stands at 0.5754.

Our preference

As long as 0.5754 is support look for 0.5842.

Alternative scenario

The downside breakout of 0.5754 would call for 0.5720 and 0.5700.

Comment

The RSI is above 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 0.5775 and 0.5767).

Supports and resistances

0.5883 **

0.5863 *

0.5842 **

0.5822

0.5781 last

0.5767

0.5754 **

0.5720 *

0.5700 **

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