The pair is still climbing up the ascendant channel. The support rests at 103.730 with resistance at 104.090 which both lines are above the weekly pivot point at 102.690. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in its high ranges and the MACD indicator is in positive territory heading down. Long positions are recommended targeting 104.14.
USDJPY analysis for 11.10.2016
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