The Dollar/Yen held above the support specified in yesterday’s report 90.90 (yesterday’s low was 90.96), and it rose to break the resistance 91.59, and stopped before the suggested target 92.15 with only 8 pips! This surely indicates the importance of this level, which we will adjust today with a single pip to 92.14. This resistance will be in the center of our attention. On the other hand, the support is at 91.54, provided by the rising trend line from 90.96 on the hourly chart. If the price manages to hold above this support, we believe in its ability to test Friday’s top and the important 92.95, if not today, then later in the week. But definitely, we need a break of 92.14 first, and if e get what we need, then the price will be on the way to test the important 92.95 first, then 93.70. But if the price retreats, and broke the rising trend line (currently running at 91.54), we will drop to the important Fibonacci levels: the important
90.90, and the more important 90.44.

Support:

• 91.54: the rising trend line on the hourly charts.

• 90.90: Fibonacci 50% level for the rising move from 88.96.

• 90.44: Fibonacci 61.8% level for the rising move from 88.96.

Resistance:

• 92.14: Fibonacci 61.8% for the short term.

• 92.95: May 18th high.

• 93.70: Apr 14th high.