JPY/INR may fall 16 - 24 pips

Our pivot point is at 0.5194.

Our preference

The downside prevails as long as 0.5194 is resistance.

Alternative scenario

The upside breakout of 0.5194, would call for 0.5207 and 0.5215.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5193 and 0.5191).

Supports and resistances

0.5215 **

0.5207 *

0.5194 **

0.5189

0.5182 last

0.5166

0.5158 **

0.5150 *

0.5142 **

Number of asterisks represents the strength of support and resistance levels.