Mid-day report

The dollar versus yen pair continued the negativepressures carrying the pair below 92.35 with a four-hour closing; pointing to the return of trading within a downside channel, to resume the downside short term direction without needing the expected upward correction. Stochastic indicator could push the pair towards a mixed fluctuation around the current resistance level at 92.35, before continuing to the downside, where we expect an intraday downside reversal with primary targets around 91.00. The downside direction will remain intact if the four hours closed below level 92.35.

The trading range for today is among the key support at 90.00 and the key resistance at 95.10.

The general trend is to the upside as far as 102.60 remains intact with targets at 84.95 and 82.60.

RecommendationOur morning expectation remains valid