JPY/INR may rise 37 - 52 pips

Our pivot point is at 0.5288.

Our preference

The upside prevails as long as 0.5288 is support.

Alternative scenario

Below 0.5288, expect 0.5262 and 0.5247.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.5299 and 0.5294).

Supports and resistances

0.5389 **

0.5374 *

0.5359 **

0.5344

0.5307 last

0.5297

0.5288 **

0.5262 *

0.5247 **

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