Japan has released the Monetary Base y/y, Unemployment Rate, Tokyo Core CPI y/y and Household Spending y/y and the US will publish Revised UoM Inflation Expectations and Revised UoM Consumer Sentiment.
The support rests at 105.500 with resistance at 106.300 which both lines are below the weekly pivot point at 106.950. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing sell signals.
The pair may fall towards 105 area but there is too much support in this level. The correction pattern will begin soon targeting 108.

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