Technical Analysis for JPY
The pair is fluctuating within a limited range below Linear Regression Indicator 34 keeping the possibility of a downside move valid. The pair will face a barrier before extending bearishness, which is 38.2% correction at 93.55 shown on graph. Breaking 93.55 levels might get the pair into a new downside wave.
The trading range for today is among key support at 92.30 and key resistance at 96.35.
The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
Support: 95.40, 94.00, 93.80, 93.55, 93.10
Resistance: 95.00, 95.50, 96.10, 96.35, 96.55
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 95.50 targeting 94.80, 94.40 then 93.80 and stop-loss with four-hour closing above 96.55 might be appropriate today