Japan has published Consumer Confidence and the US will be releasing Fed Labor Market Conditions Index (MoM).
The support rests at 112.550 with resistance at 112.950 which both lines are above the weekly pivot point at 112.310. 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 moving horizontally above the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals.
While considering pullbacks on the way, long positions are recommended targeting 113.

usdjpy analysis

usdjpy