Morning Report

The dollar versus yen is graduallyapproaching thesupport for the descending channel - currently at 88.60 - with momentum indicators entering oversold areas that might cause some fluctuation with a slant towards retesting thebroken minor support at 89.75 before resuming the expected bearish intraday direction. The current short term direction requires 91.10 to remain intact.

The trading range for today is among the key support at 87.65 and the key resistance at 91.90.

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

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More Technical Analysis For The Pair

RecommendationBased on the charts and explanations above our opinion is selling the pair from 89.75 target 88.60 and stop loss above 90.45, might be appropriate.