Morning Report

The bearish trend appearing on the pair's trading is gradually nearing from the intraday ascending channel's support around 83.25. Stochastic is giving off positive signs that encourage us to maintain expectations of an expected bearish intraday trend, which majorly depends on the breach of pivotal resistance 84.25. In order for a clearer view regarding the suggested scenario and expected targets, we recommend reviewing yesterday's weekly reports, alongside the More on the Dollar versus Yen link below.

The trading range for today is among the key support at 82.80 and the key resistance at 85.95.

The short term trend is to the downside as far as 91.55 remains intact with targets at 77.70.

Previous Report Weekly Report

More on the Dollar versus Yen

RecommendationBased on the charts and explanations above our opinion is buying the pair 83.25 targeting 84.25 and stop loss below 82.55, might be appropriate.