Technical Major Currencies Report - Japanese Yen (JPY)

By @ibtimes on

Mid-day report

The dollar versus yen pair is trading within a relatively narrow range,biased to the downside, as seen on the chart above. Thus, keeping our morning expectations as is and await the downside reversal which begins with touching 93.25 and then heading towards levels 91.00. Achieving this bearish direction requires trading to remain below 93.25.

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 upside as far as 102.60 remains intact with targets at 84.95 and 82.60.

Support92.2091.9091.4090.9590.40Resistance93.2593.8094.0594.4595.05RecommendationBased on the charts and explanations above our opinion is selling the pair from 93.25 To 91.45 and stop loss above 94.00, might be appropriate

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