Sell JPYINR MAY @ 60.85 SL 61.05 TGT 60.5-60.25 - Kedia Advisory
USDINR
BUY USDINR MAY @ 95.5 SL 95.3 TGT 95.75-95.95.
Observations
USDINR trading range for the day is 95.22-96.08.
Rupee hit an all-time low weighed by expectations of prolonged high crude prices, persistent portfolio outflows and weakening sentiment.
U.S. President Donald Trump said the truce was "on life support", citing disagreements over key demands made by Iran.
India is set for a third consecutive balance of payments deficit this fiscal year, with economists cutting growth forecasts, lifting inflation estimates
EURINR
SELL EURINR MAY @ 112.6 SL 112.9 TGT 112.3-112.
Observations
EURINR trading range for the day is 111.79-113.79.
Euro gains amid Rupee weakness as investors assessed the impact of escalating US-Iran tensions
Germany’s annual inflation rate accelerated to 2.9% in April 2026, rising from 2.7% in March, marking the highest reading since January 2024.
ECB’s Lagarde reiterated that the central bank is prepared to take swift action if necessary, emphasizing that the euro area’s economic position is stronger now
GBPINR
SELL GBPINR MAY @ 129.7 SL 130 TGT 129.4-129.1.
Observations
GBPINR trading range for the day is 129.07-130.33.
GBP dropped as political instability in the UK deepened
Over 70 Labour MPs have urged Prime Minister Keir Starmer to resign following the party’s poor performance in last week’s local elections
UK retail sales decreased by 3.4% year-on-year on a like-for-like basis in April 2026, sharply missing expectations for a 0.8% increase
JPYINR
SELL JPYINR MAY @ 60.85 SL 61.05 TGT 60.5-60.25.
Observations
JPYINR trading range for the day is 60.58-61.16.
JPY remains in range as the dollar strengthened after President Trump raised doubts over the durability of the US-Iran ceasefire.
Policymakers at the Bank of Japan stayed cautious about the uncertain Middle East situation at their April meeting.
Japan’s foreign reserves rose by USD 8.25 billion to USD 1.38 trillion in April 2026 from a three-month low of USD 1.37 trillion.
