Morning Report

The USD/JPY pair resumed its downside direction yesterday after the stability below the broken key support level at 82.30. With the entrance ofmomentum indicators in oversold areas, we expect to see slight upside correction at 81.95-82.30 before continuing the bearish intraday directionwith targets at 80.35-80.00, where reaching these targets require the stability below 82.30.

The trading range for today is among the key support at 80.35 and the key resistance at 83.70.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 81.95 targeting 80.35 and stop loss above 82.75, might be appropriate.