Sell JPYINR MAY @ 60.8 SL 61.2 TGT 60.4-60 - Kedia Advisory
USDINR
BUY USDINR MAY @ 94.3 SL 94.1 TGT 94.6-94.8.
Observations
USDINR trading range for the day is 93.83-95.63.
Rupee rose tracking a rally in Asian peers after the U.S. signalled it may be nearing a deal with Iran
India Services PMI was revised higher to 58.8 in April 2026 from the preliminary estimate of 57.9 and after March’s 13-month low of 57.5.
India’s Composite PMI registered 58.2 in April 2026, just shy of the flash estimate of 58.3 but higher than 57.0 in the previous month
EURINR
SELL EURINR MAY @ 111.6 SL 112 TGT 111.2-110.9.
Observations
EURINR trading range for the day is 111.21-112.11.
Euro dropped amid Rupee firmness after prices gains as optimism over a potential US-Iran agreement grew.
President Trump paused "Project Freedom," the operation guiding ships through the Strait of Hormuz, citing "great progress" in talks with Iran.
UK Manufacturing PMI climbed to 53.7 in April 2026 from 51 in the prior month, slightly above the preliminary estimate of 53.6.
GBPINR
SELL GBPINR MAY @ 129 SL 129.4 TGT 128.6-128.3.
Observations
GBPINR trading range for the day is 128.41-129.75.
GBP dropped amid Rupee firmness after prices gains as optimism grew over a potential US-Iran agreement.
Investors focused on Britain’s municipal elections on Thursday, with polls suggesting PM’s Party might face a significant setback.
Eurozone Manufacturing PMI climbed to 52.2 in April 2026, its highest in nearly four years, up from 51.6 in March and matching initial estimates.
JPYINR
SELL JPYINR MAY @ 60.8 SL 61.2 TGT 60.4-60.
Observations
JPYINR trading range for the day is 60.31-61.59.
JPY steadied as both the US dollar and oil prices declined on growing signs of de-escalation in the Middle East.
The yen remains particularly sensitive to Middle East developments due to Japan’s heavy dependence on oil imports from the Gulf.
Investors stayed alert to the possibility of official support for the currency following suspected intervention by Japanese authorities last week.
