Morning Report

The USD/JPY pair was able to breach the neckline for the bullish technical pattern yesterday at 91.00 to slightly incline, yet returned to fluctuate around the neckline, as we see in the image above. We still believe the pair is to continue inclining on the intraday basis with initial targets at 92.05 before heading towards 93.15. The uptrend remains as far as 91.00 is intact on the four hour charts.

The trading range for today is among the key support at 89.00 and the key resistance at 93.15

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 from 91.00 to 92.05 and stop loss below 90.25 might be appropriate.