JPY/INR may rise 46 - 66 pips

0.5725 is our pivot point.

Our preference

Rise to 0.5818.

Alternative scenario

The downside breakout of 0.5725 would call for 0.5692 and 0.5672.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the pair is trading under its 20 period moving average (0.5753) but above its 50 period moving average (0.5748).

Supports and resistances

0.5858 **

0.5838 *

0.5818 **

0.5798

0.5752 last

0.5738

0.5725 **

0.5692 *

0.5672 **

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