Japan released the Revised Industrial Production m/m and the US will publish Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Import Prices m/m, Retail Sales m/m and Core Retail Sales m/m.
The support rests at 107.660 with resistance at 108.350 which both lines are above the weekly pivot point at 106.630. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
USDJPY is moving in the upper Bollinger band which confirms the price growth within a tight range targeting 108.600; however, pullbacks can be expected as well.
