There are no major economic reports in Japan but the US will release NAHB Housing Market Index, Industrial Production m/m, and Capacity Utilization Rate.
The support rests at 111.750 with resistance at 112.100 which both lines are above the weekly pivot point at 111.650. 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 falling down, the Stochastic is showing downward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The resistance level seems to be too strong to be broken. Short positions are recommended towards 111.500.
