JPY/INR may rise 27 - 40 pips

0.5278 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 0.5278, expect 0.5255 and 0.5242.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (0.5300) but under its 50 period moving average (0.5309).

Supports and resistances

0.5372 **

0.5359 *

0.5345 **

0.5332

0.5305 last

0.5287

0.5278 **

0.5255 *

0.5242 **

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