The Dollar-Yen refused to engage in the extreme excitement seen on the Dollar/European currencies pairs, and kept its very calm relatively to the craziness we have seen on other pairs. The thing is that, the technical outlook has not changed for days. We are still trading very slowly in a correction to the up move which topped at 94.77, which is a correction that managed to reach its first target at 92.85. We are still watching for any other technical evidences to decide whether this correction has finished at Fibonacci 38.2% or that it is still going and will soon target Fibonacci 50% & 61.8% levels. Support is at 92.85 and in case it is broken, the price will continue its drop from 94.77 (the correction), and will target 92.10 first, then the most important support for the short term (and may be the medium term as well) 91.66. As for the resistance it is at 93.42, and breaking it would indicate that we are back to the 94areas after completing a modest correction, and we will target 94.07 & 95.05.

Support:

* 92.85: Jan 8th high, and the rising trend line from 88.12 on the 4-hour chart.

* 92.10: Mar 30th low.

* 91.66: Fibonacci 61.8% for the rise from 89.74, a very important support for the short term.

Resistance:

* 93.42: the falling trend line from 94.77 on hourly chart.

* 94.07: important intraday support/resistance.

* 95.05: Aug 24th high.