SELL JPYINR FEB @ 58.1 SL 58.3 TGT 57.9-57.7. - Kedia Advisory
USDINR
SELL USDINR FEB @ 90.6 SL 90.8 TGT 90.4-90.3.
Observations
USDINR trading range for the day is 90.23-90.83.
Rupee edges lower amid corporate dollar buying and in anticipation of the RBI swap.
The HSBC India Services PMI was revised lower to 58.5 in January 2026, following a final reading of 58.0 in December 2025.
India’s Composite PMI by HSBC came in at 58.4 in January 2026, below the flash print of 59.5 yet higher than December’s 11-month low of 57.8
EURINR
SELL EURINR FEB @ 107.15 SL 107.45 TGT 106.8-106.6.
Observations
EURINR trading range for the day is 106.61-107.75.
Euro gains as dollar edged down as a delay in releasing key jobs data due to a partial government shutdown added to uncertainty.
Germany Services PMI fell to 52.4 in January from 52.7 in December, the lowest since September and below preliminary estimates of 53.3.
Eurozone Composite PMI inched lower to 51.3 in January of 2026 from the 51.5 in the previous month, revised downwards from 51.5.
GBPINR
SELL GBPINR FEB @ 124.2 SL 124.5 TGT 123.9-123.6
Observations
GBPINR trading range for the day is 123.71-124.59.
GBP rises as markets broadly expect BoE to leave interest rates unchanged
The S&P Global UK Services PMI rose to 54 in January from 51.4 in December, the highest since August 2025.
Britain’s inflation remains the highest among G7 peers, while recent manufacturing PMI data showed activity at its strongest since August 2024.
JPYINR
SELL JPYINR FEB @ 58.1 SL 58.3 TGT 57.9-57.7.
Observations
JPYINR trading range for the day is 57.78-58.26.
JPY dropped ahead of this weekend’s snap lower house election.
Japan’s S&P Global Services PMI rose to 53.7 in January 2026, surpassing the flash estimate of 53.4 and December’s 51.6.
Japan’s S&P Global Composite PMI rose to 53.1 in January 2026, above the flash estimate of 52.8 and up from 51.1 in December.
