JPY has been empowered by the BOJ’s monetary policy statement and interest rate decision.
The support rests at 110.880 with resistance at 111.440 which both lines are above the weekly pivot point at 110.080. The EMA of 10 is moving with bullish bias along the ascendant channel but it is below the EMA of 100 and above the EMA of 200. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD indicator is in neutral territory. The ADX is showing buy signals.
Long positions are recommended targeting 112.

usdjpy analysis