Sell JPYINR MAY @ 60.85 SL 61.05 TGT 60.5-60.25 - Kedia Advisory
USDINR
SELL USDINR MAY @ 95.8 SL 96 TGT 95.6-95.4.
Observations
USDINR trading range for the day is 95.44-95.96.
Rupee steadied as authorities stepped up efforts to stabilize the economy amid mounting external pressures.
India sharply raised import duties on gold and silver, lifting the effective tax rate to about 15% from 6%, to narrow the trade deficit.
Moody’s Ratings lowered its 2026 economic growth forecast for India to 6.0% from 6.8%
EURINR
SELL EURINR MAY @ 112.6 SL 112.9 TGT 112.3-112.
Observations
EURINR trading range for the day is 111.93-112.73.
Euro dropped as markets were pricing in three interest rate rises by ECB this year as hopes faded for a peace deal in the Iran war.
Germany’s wholesale prices surged 6.3% year-on-year in April 2026, accelerating from a 4.1% growth in the prior month.
The unemployment rate in France rose to 8.1% in the first quarter of 2026, above market forecasts of 7.8%, from 7.9% in the previous quarter.
GBPINR
SELL GBPINR MAY @ 129.7 SL 130 TGT 129.4-129.1.
Observations
GBPINR trading range for the day is 128.94-130.26.
GBP dropped amid growing concern that British Prime Minister Keir Starmer could step down.
PM Starmer has vowed to stay in office despite pressure from over 70 Labour MPs to resign following the party’s poor local election performance.
Traders are increasing bets on further Bank of England rate hikes, with markets now pricing in nearly three additional increases by year-end
JPYINR
SELL JPYINR MAY @ 60.85 SL 61.05 TGT 60.5-60.25.
Observations
JPYINR trading range for the day is 60.59-61.03.
JPY weakened as the dollar gained on hotter-than-expected US inflation data that reinforced expectations for tighter Fed policy.
Japan’s current account surplus increased to JPY 4,681.5 billion in March 2026 from JPY 3,625.3 billion in the same month a year earlier.
Japan’s bank lending rose by 5.4% year-on-year in April 2026, surpassing market expectations of a 4.6% increase
