Morning Report

The dollar versus yen stabilized around the pivotal 88.35; fluctuating around the MA 50 , shown in the image above. The close above mentioned support keeps chances of achieving a bullish intraday direction for the pair, supported by positive signs that continue to appear through momentum indicators. The first target for the awaited ascend is at 89.65, which opens the way to return back into the bullish short term wave's lane and completing the current bearish correction. The four hour close must remain above 88.35 to achieve the mentioned expectations.

The trading range for today is among the key support at 87.10 and the key resistance at 90.55.

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

RecommendationBased on the charts and explanations above our opinion is buying the pair from 95.00 target 96.00 and stop loss below 94.00, might be appropriate.