Morning Report

The dollar versus yen succeeded in achieving the bearish scenario mentioned yesterday, achieving the main targets and stabilizing in trading below resistance for the descending channel once again. From here, we expect a bearish intraday direction; where its primary targets are around 87.35 and require mainly 90.55 to remain intact in the four hour closing below it.

The trading range for today is among the key support at 87.35 and the key resistance at 91.55.

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 89.85 target 89.00 and stop loss above 90.55, might be appropriate.