Morning Report

The dollar versus the yen breached the focal resistance at 94.80 and is trading within the ascending channel shown above. Momentum indicators are providing negative signals that might add volatility and downside correctional moves before further intraday bullishness expected for the day with targets starting from 95.60. The short term upside wave requires steady trading above 93.65.

The trading range for today is among the major support at 94.00 and the major resistance at 95.60.

The short term trend is to the downside as far as 101.65 is intact with targets at 82.60.

Previous Report

Weekly ReportSupport94.8094.0093.6593.2092.80Resistance95.0095.6096.0093.3596.85RecommendationBased on the charts and explanations above our opinion is buying the pair from 94.80 targeting 95.60 and stop loss below 94.00 might be appropriate