Technical Analysis for JPY

The negative trading is still dominating the pair, as the upside attempts remained limited below 98.60 forcing us to keep our negative expectations today. We should point out that breaking 97.65 is significant for the downside move to extend as Linear Regression Indicators supports the negativity as shown on graph.

The trading range for today is among key support at 96.75 and key resistance at 99.00.

The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.

Support: 97.65, 97.05, 96.75, 96.55, 96.10
Resistance: 98.05, 98.60, 98.80, 99.00, 99.40

Recommendation Based on the charts and explanations above, our opinion is selling the pair below 98.00 targeting 97.65, 97.05 then 96.75 and stop-loss with four-hour closing above 98.60 might be appropriate today

IMOH, Clement I.
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