Japan has released the Tertiary Industry Activity m/m and the US will publish TIC Long-Term Purchases, Beige Book, Crude Oil Inventories, NAHB Housing Market Index and Import Prices m/m.
The support rests at 108.310 with resistance at 108.720 which the weekly pivot point at 108.470 is located in between the lines. The EMA of 10 is moving horizontally in the horizontal channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving on the 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
USDJPY has been fluctuating within the horizontal channel since the beginning of 2019. The resistance level breakout may push the pair higher towards 109.