The USD/JPY pair started this weeks trading with a gap down, showing that the pair is attempting to extend the decline, after breaching the pivot support at 93.75 and heading towards 92.20. We expect further declines on the intraday basis today, targeting 91.40 with chances of a slight correction to 93.25 before reversing back to the downside. This decline remains as far as 95.30 remains intact.
The trading range for today is among the key support at 90.95 and the key resistance at 95.30
The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60