Morning Report

The dollar versus yen continued its decline yesterday towards support levels for the ascending channel, while initially achieving the breach of this level in an attempt to reach the awaited target at 88.55. We still await the touch of the mentioned target and then expect a bullish rebound, where the pair will resume through it the bullish directionwhich is expected for today and that targets mainly 91.25. Chances of achieving a bullish trend will prevail if 88.35 remain intact.

The trading range for today is among the key support at 87.10 and the key resistance at 91.25.

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

Monthly report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 88.55 target 90.00 and stop loss below 87.65, might be appropriate.