There are no major economic reports in Japan but the US will release Natural Gas Storage, CB Leading Index m/m, Business Inventories m/m, Flash Services PMI, Flash Manufacturing PMI, Unemployment Claims, Philly Fed Manufacturing Index, Retail Sales m/m, and Core Retail Sales m/m.
The support rests at 111.780 with resistance at 112.060 which both lines are above the weekly pivot point at 111.650. The EMA of 10 is moving horizontally 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 moving in oversold area and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The support level breakthrough may push the price down towards 111.500; otherwise, USDJPY will continue its bullish trend towards 112.200.
