JPY was massively under the influence of oil price and the China manufacturing PMI. The support rests at 100.940 with resistance at 101.860 which both lines are below the monthly pivot point at 102.130. The EMA of 10 is moving with bullish bias and it is getting close to the EMA of 100. The RSI is moving close the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. After the support level breakthrough, sellers can target 100.40 area.
USDJPY analysis for 03.10.2016
Comments are closed.