Morning Report

The dollar versus yen is attempting to descend since yesterday, where positive pressure is coming from momentum indicators; therefore forcing the pair to bullishly correction and expect it to touch 92.20 before returning to resume the bearish direction. Thus, we expect an overall bearish direction over an intraday basis that targets mainly 90.75 and requires trades to remain below 92.75.

The trading range for today is among the key support at 90.75 and the key resistance at 93.20.

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

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 92.20 target 91.25 and stop loss above 92.75, might be appropriate.