JPY/INR may fall 21 - 32 pips

0.5437 is our pivot point.

Our preference

The downside prevails as long as 0.5437 is resistance.

Alternative scenario

Above 0.5437, look for 0.5455 and 0.5466.

Comment

The RSI is below 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 0.5440 and 0.5448). Finally, the JPY/INR is trading below its lower Bollinger band (standing at 0.5424).

Supports and resistances

0.5466 **

0.5455 *

0.5437 **

0.5430

0.5423 last

0.5402

0.5391 **

0.5380 *

0.5370 **

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