Morning Report

The dollar versus yen touched the breached support - which turned into resistance - at 89.15 and started to attempt to move to the downside, mentioned in yesterday's report. Today, we can expect the start of a bearish wave over an intraday short term basis supported by bearish signs appearing through the stochastic, which target levels around 87.00 and require trading to remain below 89.70.

The trading range for today is among the key support at 87.10 and the key resistance at 90.60.

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 with the breach of 89.60 target 87.40 and stop loss above 89.70, might be appropriate.