Morning Report

The dollar versus yen pair stabilized around the breached neckline currently at 90.35, where we think that these trades are considered to be an attempt to gain the desired bearish momentum to support continuing the expected previous downside move for the pair. Momentum indicators are currently neutral, where we await confirmation signs from it. Thus, we still hold onto our previous expectations that point to a possible bearish direction over an intraday basis today, where awaited targets are around 88.00 - the bearish technical patterns previously shown -. Meanwhile, it is vital that the pair continues to close below 91.00 so it would prevail to the expected downside direction.

The trading range for today is among the key support at 88.00 and the key resistance at 92.35.

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 90.35 To target 89.00 and stop loss above 91.00, might be appropriate