JPYINR traded higher witnessing gap up openings with rallying more than 2%. Prices ended positive at 58.73 on safe haven buying against dollar.
The dollar fell to a three-week low of 110.53 yen before bouncing back a tad to 111.09 yen JPY up 0.3 percent from late U.S. levels, on Japanese bargain-hunting.
JPYINR has important resistance at 58.40/59.20. We expect JPYINR to trade sideways to up with support at 58.10/57.80.