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* China has surged ahead of the US for corporate bond deals in its yuan credit market in recent months, a rare shift that highlights the deepening impact of the two countries’ diverging monetary policies.

* The dollar surged to a 24-year peak against the yen and a 37-year high versus sterling on Wednesday, as Japan's dovish monetary policy and Europe's economic problems contrasted with a relatively stronger U.S. economy and a hawkish Federal Reserve determined to bring down inflation to its 2% inflation target.

* Japan's government said it was ready to take action if "rapid, one-sided" moves in the currency market continue, signalling their alarm over the yen's fall to a fresh 24-year low. 

* The rouble opened weaker on Wednesday, under pressure from lower oil prices, as President Vladimir Putin told an economic forum in Russia's far east that the West's futile and aggressive attempts to isolate Russia with sanctions were failing.

* Japan's government wants to act if "rapid, one-sided" moves seen in the currency market recently continue, the country's top government spokesperson warned on Wednesday as the yen slid to a fresh 24-year low.

* The U.S. dollar soared in early European trade Wednesday, rising to a fresh 24-year high against the Japanese yen as traders anticipate further aggressive monetary tightening by the Federal Reserve.

JPYINR (DAILY) - 55.49

Observation

* On looking at daily 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.

* The breakout was followed by a gap pointing towards the bearish sentiment.

* 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 55.47 Target 55 SL 55.60

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