Dollar/Yen broke the resistance specified in Friday’s report 91.65, but it barely made it to 92 (the high at the moment of preparing this report is exactly 92.00), which makes us wonder if we will see results to this break. We are full of hope to see some excitement today, as we are betting on the Dollar to capitalize on the break of the falling trend line from last week’s high. And if it breaks the resistance 91.91, that would be probable, and we would be looking forward to reach the 92.56 & 93.62 targets. Having said that, the possibility of a drop remains, but it now needs a break of the support 91.60. If we do, we will target a critical level has appeared this morning, catching all of our attention for the past 3 days. This level is the support at 90.65. The reasons which makes this level a shining star standing out is that it combines the rising trend line from May 20th, with June 7th low, giving this level a double importance. But, before we can test this level, we need to break the 91.60, which is the rising trend line from Thursday’s low. And if we do, we will drop to test this very important (and hopefully very exciting) level 90.94. Breaking here would have serious consequences on this pair, and 89.81 will only be a first & modest target for this break, on the way to lower levels.

Support:

• 91.60: the rising trend line from Thursday’s low on the hourly chart.

• 90.94: June 7th low & the important rising trend line on hourly charts.

• 89.81: May 26th low.

Resistance:

• 91.91: June 8th high.

• 92.56: Apr 13th low.

• 93.62: May 13th high.