Morning Report

The dollar versus yen achieved a gradual descend within the bearish channel, mentioned yesterday, where its present resistance is at 90.80. the stability of trades below the MA 200, insures the continuing bearish direction today; targeting first 89.70 and requires the four hours to close below 91.20 to maintain chances of achieving it.

The trading range for today is among the key support at 88.80 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.

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 90.80 target 89.70 and stop loss above 91.85, might be appropriate.