Japanese Yen (JPY) Technical Major Currencies (2010-02-04)

The dollar versus yen returned to ascend, touching resistance for the rising wedge shown previously; whereas the pair was not able to achieve a closing above 91.10 and therefore maintains chances of previous expectations remaining intact. From here, we await today a possible bearish intraday direction that insures the breach of pivotal support 90.80, thereby making the pair's achieving the primary targets easier around 89.10. Keep in mind the importance of trading remaining below 91.30 to insure that these expectations continue.

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.

Weekly ReportPrevious ReportSupport90.8090.2089.9089.1088.45Resistance91.3091.6592.2092.5092.90RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 90.80 target 89.90 and stop loss above 91.30, might be appropriate.