Japan is not releasing any economic reports today but the US will release Crude Oil Inventories, Housing Starts and Building Permits.
The support rests at 112.170 with resistance at 112.670 which both lines are above the weekly pivot point at 112.110. The EMA of 10 is moving with bullish bias in the ascendant channel but it is below the EMA of 100 and above the EMA of 200. The RSI is rising towards the overbought area, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. The ADX is showing weak buy signals.
Long positions are recommended towards 61.8 level of Fibonacci at 112.9.

usdjpy analysis