Morning Report

The candle of BOJ's intervention was fully corrected during today's Asian session as seen on the provided daily graph, but the pair is finding solid support around 76.80 areas. Both kinds of indicators -momentum and trend- are presently showing technical hesitation due to nearing the pivotal support areas of 76.45-76.25. We need to be cautious as the trend over various time frames is unclear. Dear reader, let us stay aside today.

The trading range for today is among key support at 74.55 and key resistance now at 79.55.

The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 76.40 remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.