The dollar versus yen breached support for the short termascending channel, in an attempt to start an early bearish reversal before touching the awaited resistance levels at 94.10. The pair is presently facing the MA 50 that is impeding achieving more downside movement. On the overall, we think that the expected direction is bearish over an intraday basis; targeting 90.75 and requires trades to remain stable below 92.45 to achieve it. Observing closing fortoday is vital for 90.75 to determine the new short term direction's destination.
The trading range for today is among the key support at 90.04 and the key resistance at 93.60.
The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair from 91.85 target 90.75 and stop loss above 92.45, might be appropriate.|