Morning Report

The USD/JPY pair traded between 90.00 – 90.50 pressured to the upside by momentum indicators. We expect high volatility within narrow ranges towards 90.90 – 91.40, in an attempt to gather enough bearish momentum to continue the short term trend to the downside; targeting initially 89.70. The downtrend continues, as far as 92.10 is intact.

The trading range for today is among the key support at 88.40 and the key resistance at 94.70

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 90.90 to 89.70 and stop loss above 91.70 might be appropriate.