Morning Report

The dollar versus yen continued its trading around the resistance level for the bearish channel (currently at 89.50), which keeps the intraday short term downside direction intact. The constant resilience of the mentioned resistance makes us expect a bearish move over an intraday basis, where its targets start at 87.80 and then continue to descend towards 85.75. The four-hour closingsmusthold below 89.50 to maintain the expected downside direction.

The trading range for today is among the key support at 86.75 and the key resistance at 93.40.

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 at 89.50 To target 88.35 and stop loss above 90.40, might be appropriate