Morning Report

The dollar versus theyen strongly pushed towards achieving the intraday direction's targets, which are expected alongside the breach of the ascending channel's resistance level that organizes the bullish short term wave. For today, we can expect a bearish direction where the pair will touch the support level for the ascending channel at 88.55 before resuming the bullish direction that mainly targets 91.30 - resistance level for the main descending channel -. Momentum indicators support the start of an expected bearish correction. Expectations for today will prevail if the four-hour closing remains below 90.00.

The trading range for today is among the key support at 88.55 and the key resistance at 91.30.

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

Support89.4588.5588.0587.3586.75
Resistance90.8091.3091.7092.1592.85
RecommendationBased on the charts and explanations above our opinion is selling the pair from 90.00 target 88.55 and stop loss above 90.80, might be appropriate