Morning Report

The dollar versus yen pair continued its sideways trading yesterday, near the previously breached support at 90.15. We think that this is an attempt at gaining enough momentum to continue into the bearish direction. However, if trading remains below the mentioned level, our expectations of a possible bearish trend for today where its first target is around 89.15 could remain. It is essential that the four hours close below 90.15 consistently, to maintain chances of achieving this expected 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 90.15 To target 89.15 and stop loss above 90.90, might be appropriate