Morning Report

The dollar versus yen strongly moved to the upside, breaching thepivotal resistance levels of90.75 that paveed the way to achieve more short term inclines. The ascending channel remains organizing the pair's trades; thus, we expect sine minor bearish correction to retest the breached resistance level at 90.75 andbefore resumingthe overall bullish direction towards 92.80. Chances of achieving the expected intraday ascend will prevail if 90.75 remains intact.

The trading range for today is among the key support at 90.05 and the key resistance at 92.80.

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

Monthly Report Weekly Report

 
Support90.7590.0589.3588.8588.45
 
Resistance91.7592.3592.8093.0593.80
 
RecommendationBased on the charts and explanations above our opinion is buying the pair from 90.75 target 91.75 and stop loss below 90.05, might be appropriate.
 

Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.