Japan has released the Prelim Machine Tool Orders y/y, 30-y Bond Auction, M2 Money Stock y/y and Core Machinery Orders m/m data and the US will publish 30-y Bond Auction, Natural Gas Storage, Final Wholesale Inventories m/m Unemployment Claims, Core PPI m/m and PPI m/m.
The support rests at 110.770 with resistance at 111.190 which both lines are below the weekly pivot point at 111.400. 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 rising towards the 50 level, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
Long positions are recommended towards 111.5.
