Morning Report

The USD/JPY pair was able to reach our first downside target at 91.90, yet momentum indicators have reached an oversold area, which may result in a slight upside correction to 92.80 before reversing to the downside on the intraday basis targeting 91.00. The decline for today remains as far as trading is below 93.15 on the four hour charts.

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 downside 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 the pair from 92.80 to 91.45 and stop loss above 93.55 might be appropriate.