Midday Report

The dollar versus the yen succeeded in building a base on the minor support level for the minor bearish channel, seen in the image above, to gradually rebound due to the positive signs on Stochastic. Meanwhile, we await touching the key support at 89.70 to achieve a strong base that will push the pair to the upside continuing its short term upside movement towards 93.00, supported by bullish signs on momentum indicators.

The trading range for today is among the key support at 86.75 and the key resistance at 93.30.

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 at 89.70 To target 90.80 and stop loss below 88.90, might be appropriate