Morning Report

The dollar versus yen was able to breach minor resistance 87.40 - MA 50- to start the awaited bullish wave. This makes us hold onto our expectations from yesterday.A possible bullish direction for today is highly anticipated; which will stabilize through the ascending channel, shown in the image above, where its primary technical targets are between 88.55 - 88.75. It is vital that 87.30 remain intact so the four hours may achieve the expected bullish trend.

The trading range for today is among the key support at 85.80 and the key resistance at 88.45.

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

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Support87.4086.7585.8085.3584.95
Resistance88.5589.1589.4590.4091.30
RecommendationBased on the charts and explanations above our opinion is buying the pair from 87.40 target 88.55 and stop loss below 86.75, might be appropriate.