Morning Report

The dollar versus the yen is still trading within the bearish channel, shown in the image above, where throughout the middle of this channel a minor bearish technical pattern formed, where its neckline is at 89.30. we expect that the pair will achieve more negative pressure to breach this level, in which in its role will support the continuation of the expected bearish direction over an intraday basis. The first target is around 87.85 and achieving it requires trading to remain intact below 90.35.

The trading range for today is among the key support at 87.85 and the key resistance at 91.35.

The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.

Monthly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 89.30 To target 87.85 and stop loss above 90.35, might be appropriate