Morning Report

The USD/JPY pair was limited between the 50% and 38.2% correction, in an attempt to gather enough momentum to continue the short term downside trend, where we see a bearish crossover on the stochastic indicator supporting the decline for today to breach 90.50 and open the way to target 88.65 as far as 91.75 is intact.

The trading range for today is among the key support at 88.20 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 with the breach of 90.50 to 89.70 and stop loss above 91.20 might be appropriate.