The clear "Reversal Day" pattern proved its strength. As we have expected, the price started to fall immediately after breaking 91.55, reaching 90.84 until now (but without reaching the suggested target 90.40). As we said yesterday, the "Reversal Day" pattern is one of the strongest & most reliable reversal patterns, that is why we will keep our bias towards the Yen, but with caution, because as we get closer & closer to the channel bottom, the odds of a rising correction gets bigger & bigger. Short term most important support is the bottom of the rising channel on the hourly chart which is currently at 90.55. We do not recommend going short before it is broken. If this break takes place, the price will drop targeting 89.90, and then 89.22. Resistance is at Fibonacci 38.2% for the short term 91.37, breaking it would mean that we already have a rising correction (at least). Targets of such a break are 92.31 & 93.08.

Support:
* 90.55: the bottom of the rising channel on the hourly chart.
* 89.90: Feb 15th low.
* 89.22: Feb 10th low.

Resistance:
* 91.37: Fibonacci 38.2% for the short term.
* 92.31: Oct 27th high.
* 93.08: Jul 22nd low.