Dollar-Yen broke the resistance 89.28, and jumped close to the 90 level & the suggested target (yesterday’s high 89.93). With this break, the Dollar has gained a technical advantage that should give it the strength to go on. But to keep this advantage, the price should hold above the broken trend line which is currently at 89.21.

If it succeeds in doing this, the odds will favor more upside movement, that would break short-term resistance 89.72, and head to areas above yesterday’s high, where the same suggested targets from yesterday’s report (90.08 & 90.90) will await. But if the opposite to what is expected happened (if we break the support 89.21) the price will resume falling, targeting the rising trend line from 84.81 & the SMA100, and both of them at 88.83, and if this important support if broken, we will target 87.78.
 
Support:
• 89.21: the trend line that was broken yesterday.
• 88.83: the rising trend line from 84.81, and the SMA100.
• 87.78: Fibonacci 50% for the whole move from 84.81 to 90.75.
 
Resistance:
• 89.72: short-term Fibonacci 61.8% resistance.
• 90.08: hourly resistance.
• 90.90: previous well known support/resistance area.