JPY/INR may rise 37 - 55 pips

Our pivot point is at 0.5578.

Our preference

As long as 0.5578 is support look for 0.5660.

Alternative scenario

Below 0.5578, expect 0.5548 and 0.5530.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5602 and 0.5601).

Supports and resistances

0.5696 **

0.5678 *

0.5660 **

0.5642

0.5605 last

0.5590

0.5578 **

0.5548 *

0.5530 **

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