Morning Report

The USD/JPY pair is trading around the correction level at 90.90, where there may be chances of volatility between the mentioned level and the 38.2% correction at 91.40. Stochastic indicator is near overbought areas, which may result in a decline on the intraday basis towards 89.50. This decline remains as far as trading is below 92.00.

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 91.40 to 90.15 and stop loss above 92.00 might be appropriate.