JPY/INR may fall to 0.5037 - 0.5099

Our pivot point stands at 0.5321.

Our preference

The downside prevails as long as 0.5321 is resistance.

Alternative scenario

The upside breakout of 0.5321, would call for 0.5426 and 0.5489.

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 0.5301 and 0.5332).

Supports and resistances

0.5489 **

0.5426 *

0.5321 **

0.5280

0.5228 last

0.5099

0.5037 **

0.4974 *

0.4912 **

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