Japan has published the Core Machinery Orders m/m data and the US will release NAHB Housing Market Index, Industrial Production m/m and Capacity Utilization Rate.
The support rests at 110.160 with resistance at 111.260 which both lines are below the weekly pivot point at 111.76. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below the 50 level, the Stochastic is showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
The resistance level is too strong to be broken therefore USDJPY will continue its bearish trend towards 110.

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