Morning Report

The dollar versus yen is trading below resistance for the descending channel after breaching support for the rising wedge pattern, mentioned yesterday. These factors maintain our pervious expectations of achieving a possible bearish intraday direction; where its main targetsreside around 89.10, keeping in mind the importance of trading remaining below 91.10 so that the expected scenario may prevail.

The trading range for today is among the key support at 89.10 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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RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 90.20 target 89.10 and stop loss above 91.10, might be appropriate.