USDJPY is under the influence of some economic reports such as Revised Industrial Production m/m data in Japan and the TIC Long-Term Purchases, Federal Funds Rate, FOMC Economic Projections and FOMC Economic Projections in the US.
The support rests at 114.470 with resistance at 114.860 which the weekly pivot point at 114.600 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving horizontally on 50 level, the Stochastic is moving in its low ranges and the MACD indicator is in neutral territory. The ADX is not showing any clear signals.
Short positions are recommended targeting 114.30.

usdjpy analysis