Morning Report

The dollar versus yen is near to touching the primary main correction level 38.2% Fibonacci at 91.85, inline with overbought signson stochastic. Therefore, we see that the expected bearish direction for today will start building its base on the mentioned correction and target 90.70 and then 89.75. Keep in mind that expected bearish direction will prevail if we do not witness stabilized trades above 92.10.

The trading range for today is among the key support at 89.75 and the key resistance at 93.30.

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

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 91.85 target 90.70 and stop loss above 92.60, might be appropriate.