Mid-day report

The dollar versus yen pair has been moving to the downside since this morning, heading steadily towards achieving the first target at 89.15. We hold onto our morning expectations, while paying attention to the possibility of high fluctuations due to clear oversold signs on the momentum indicators. The downside move will prevail if trading remains below level 92.60.

The trading range for today is among the key support at 89.15 and the key resistance at 95.00.

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

RecommendationBased on the charts and explanations above our opinion is selling pair from 91.50 To 94.40 and stop loss above 92.30, might be appropriate