JPY/INR may fall 38 - 57 pips

Our pivot point is at 0.5715.

Our preference

The downside prevails as long as 0.5715 is resistance.

Alternative scenario

Above 0.5715, look for 0.5747 and 0.5766.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5696 and 0.5700).

Supports and resistances

0.5766 **

0.5747 *

0.5715 **

0.5703

0.5690 last

0.5652

0.5633 **

0.5614 *

0.5596 **

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