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* Argentina and the Inter-American Development Bank (IDB) agreed on Tuesday to expand financing to the South American country to almost $5 billion between 2022 and 2023.

* The dollar marched higher on Tuesday after a report on the U.S. services industry in August reinforced the view that the United States was not in recession, while the euro and rate-sensitive Japanese yen tumbled further against the greenback.

* The Japanese yen tumbled to the symbolic level of 142 per dollar on Tuesday, a fresh 24-year low, as the gap between Japanese monetary policy and that elsewhere becomes ever more stark, weighing on the currency.

* Japanese Finance Minister Shunichi Suzuki on Tuesday reiterated that sharp yen moves were "undesirable" and that he was watching rising volatility in the exchange market with a "great sense of urgency" as the currency hit a fresh 24-year low.

* Qatar's central bank has told banks in the Gulf state not to exchange its currency with entities outside the country without prior permission, five sources told Reuters, in a move bankers say aims at ending the riyal's divergence against the dollar.

*  The hit to the euro zone economy and its currency from a deepening energy crisis is so severe that more aggressive monetary tightening from the European Central Bank will do little to stop the euro's slide

Observation

* On looking at hourly chart of JPYINR, Prices formed a base in the form of Rectangle Pattern, which is a bearish pattern.

* In the latest trading session prices have given a breakout from rectangle pattern which indicates continuation in prior downtrend.

* Bollinger bands have started to expand which tells that the volatility in the prices have started to increase for down move.

* RSI have sustained below 50 levels, reflecting that the prices have the momentum to go lower.

Inference

* Sell below 56.47 Target 55 SL 57.18+

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