Morning Report

The dollar versus yen continued gradually ascending to near main resistance level awaited that is currently descending towards 92.45. Momentum indicators show overbought signs that make us expect a bearish intraday that has started to build its base on 92.45 and initially target 91.55; taking into consideration that the breach of 92.45 opens that way to continue trading within the ascending channel and this head towards 73.35.

The trading range for today is among the key support at 90.75 and the key resistance at 93.35.

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 selling the pair from 92.45 target 91.55 and stop loss above 93.35, might be appropriate.