Japan has released Nikkei Manufacturing PMI and the US will be publishing ISM Manufacturing PMI soon.
The support rests at 111.210 with resistance at 112.150 which both lines are above the weekly pivot point at 110.950. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is rising towards the overbought area, the Stochastic is moving in high ranges and the MACD indicator is in positive territory. The ADX is showing buy signals.
Long positions are recommended targeting 112.5 followed by the correction pattern falling down.

usdjpy analysis

usdjpy