JPY/INR may rise 27 - 41 pips

Our pivot point is at 0.5288.

Our preference

Rebound towards 0.5347.

Alternative scenario

The downside breakout of 0.5288 would call for 0.5266 and 0.5252.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5309 and 0.5314).

Supports and resistances

0.5374 **

0.5360 *

0.5347 **

0.5333

0.5306 last

0.5297

0.5288 **

0.5266 *

0.5252 **

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