Japanese Yen (JPY) Technical Major Currencies (2010-01-13)

The dollar versus yen succeeded in achieving the awaited bearish move in addition to the breach of pivotal support 91.25, which will pave the way to achieve more descends. From here, we expect to witness a possible bearish direction for today; targets are mainly around 89.75, but chances of a minor bullish correction seem to be appearing since yesterday, which could impede through it the pair's testing the breach support 91.25. The bearish intraday requires trades to remain below 92.10.

The trading range for today is among the key support at 89.75 and the key resistance at 92.10.

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

Weekly Report Previous day ReportSupport90.3589.7589.3588.8588.45Resistance91.2591.8592.1093.0093.40RecommendationBased on the charts and explanations above our opinion is selling the pair from 91.25 target 89.75 and stop loss above 92.10, might be appropriate.