Industrial Production came lower than expected in Japan. USDJPY is under pressure and it has been declining since last week.
The support rests at 104.180 with resistance at 104.710 which the weekly pivot point at 104.490 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below EMA of 100 and 200. All indicators are showing downward pressure. The Stochastic is moving in low ranges. The RSI is in oversold section and the MACD is in negative territory. The ADX is showing sell signals.
The pressure may push the price down towards 104.