Morning Report

The dollar versus yen succeeded in achieving the bearish reversal yesterday after retesting pivotal levels around 92.00 to halt descend at the first target 90.70, which is showing strength in front of the bearish intraday direction due to support from the MA 200. The minor descending channel organizes the current bearish intraday and therefore, we see that the expected direction for today is bearish; the next target is around 89.75 with the importance of trades remaining below 92.10 constantly to continue bearish trend expectations.

The trading range for today is among the key support at 89.35 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.

RecommendationBased on the charts and explanations above our opinion is selling the pair from 91.25 target 90.35 and stop loss above 91.85, might be appropriate.