Morning Report

The USD/JPY pair declined towards the previously breached key resistance for the downside channel, which is currently limiting further losses for the pair. We see a pivot support at 92.00 awaited to be breached for today; confirmed by a four hour closing below it, to result in a decline towards the initial target at 89.00, as far as 92.65 remains intact.

The trading range for today is among the key support at 90.00 and the key resistance at 95.10

The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60

RecommendationBased on the charts and explanations above, our opinion is selling the pair from 92.00 to 91.00 and stop loss above 92.65 might be appropriate.