The Dollar-Yen broke the support in yesterday's report 93.75, and stopped with stunning accuracy at the first suggested target 93.12 (the Asian session low, and the daily low until the moment of preparing this report is93.12). This proves the importance of this level which we described yesterday as very important.

Thus, we will keep our attention focused on this level, since a break here would indicate that the fall from 94.77 is more than just a correction. If93.12 is broken, we expect this pair to get hammered to 92.10 first, and then the important 91.55, which represents the last line of defense for the rise from 88.12. With this drop, we now have a clear falling channel from 94.77, with its top at 93.82. If this resistance is broken, the USD will be able to capitalize on the accurate stop at 93.12 t achieve gain, targeting the weekly high 94.77 first, and then 95.84.

Support:
* 93.12: Fibonacci 61.8% for the rise from 92.10, a very important support for the short term.
* 92.10: Mar 30th low.
* 91.55: the rising trend line from 88.12 on the hourly chart.

Resistance:
* 93.82: the top of the falling channel from 94.77.
* 94.77: this week's high so far.
* 95.84: Jul 31st high.