USD/JPY Open 92.73 High 94.04 Low 91.56 Close 92.64

Yesterday Dollar/Yen made a downwards adjustment. The currency pair reached the bottom of at 92.34 and closed at 92.64. On the daily chart the couple failed to break the strong resistance 94.65. This fact led to the end of the current short term upward correction. On the four hour chart the CCI indicator is in the oversold zone and about to pass down the 100 line, assuming potential decreasing movement. Immediate support is seen at 91.55. Break under that level may cause further bearish scenario towards 89.50. Short term resistance is 93.45.

Technical resistance levels: 92.60 93.30 94.65

Technical support levels: 91.55 90.40 89.50

Trading range: 91.85 - 91.20

Trend: Downward

Sell at 91.74 SL 92.04 TP 91.34