JPY/INR may fall 30 - 46 pips

0.5339 is our pivot point.

Our preference

The downside prevails as long as 0.5339 is resistance.

Alternative scenario

Above 0.5339, look for 0.5365 and 0.5380.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5324 and 0.5328).

Supports and resistances

0.5380 **

0.5365 *

0.5339 **

0.5329

0.5319 last

0.5289

0.5273 **

0.5258 *

0.5243 **

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