Morning Report

The dollar versus yen ascended to breach the resistance level for the minor bearish channel, shown in the image above, starting its short term bullish wave; where wesee istargetingthe main resistance level for the bearish channel at 93.60. From that we expect a move to the upside over an intraday basis supporting the bullish short term move towards the mentioned target;for this move to prevail the trading is required to remain above 87.90.

The trading range for today is among the key support at 86.75 and the key resistance at 93.60.

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 target 91.60 and stop loss below 89.40, might be appropriate