Japanese Yen (JPY) Technical Major Currencies (2010-01-07)

By @ibtimes on

Morning Report

Pivotal resistance was able to stop the bullish correction that the dollar versus yen has been attempting since yesterday to start, according to our awaited bearish trend expectations. The stochastic is still showing bearish negative signs that encourage us to mention that,the expected direction for today is bearish; targeting mainly 90.75 and requires 93.05 to remain intact below it in the four hour close.

The trading range for today is among the key support at 90.75 and the key resistance at 93.55.

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

Weekly ReportSupport91.9091.2590.7590.4089.60Resistance92.4592.7593.0593.6594.10RecommendationBased on the charts and explanations above our opinion is selling the pair from 92.45 target 91.25 and stop loss above 93.05, might be appropriate.

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