Morning Report

The USD/JPY pair was able to rebound from the support level pointed out yesterday, to gradually incline in an attempt to target the pivot resistance at 90.40, which we believe is to be breached and open the way on the short term to incline and target 94.00. We see in the iamge above, the possibility of forming a bullish technical pattern with a neckline at 90.40, which supports our outlook to the upside today as far as 88.40 remains intact.

The trading range for today is among the key support at 87.30 and the key resistance at 94.00

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 buying the pair with the breach of 90.40 to 91.35 and stop loss below 89.55 might be appropriate.