Japanese Yen (JPY) Technical Major Currencies (2009-12-24)

The dollar versus yen continues attempting to achieve an expected descend for yesterday, but the minor support level is at 91.30; impeding achieving this mission's targets. The constant negative pressuremakes us expect a breach of this level and then test 90.75, which meets with support for the current ascending channel to build a base that supports the resumption of the bullish short term direction. The overall direction for today is bullish; targeting 92.75 and requiring the four hours to close above 90.15.

The trading range for today is among the key support at 89.60 and the key resistance at 92.75.

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

Weekly ReportMonthly ReportSupport90.7590.1589.3588.8588.45Resistance91.8092.5092.7593.0593.80RecommendationBased on the charts and explanations above our opinion is buying the pair from 90.75 target 91.80 and stop loss below 90.15, might be appropriate.