USDJPY is chiefly under the influence of BoJ’s decision to buy JGB. The support rests at 110.170 with resistance at 111.010 which both lines are above the weekly pivot point at 104.910. The EMA of 10 is moving with bullish bias and it is located above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is in its highest rate and the MACD indicator is in positive territory. The ADX is showing a strong buy opportunity. 111 area seems to be such a strong resistance zone for this pair therefore pullbacks will be mostly probable at the moment.
USDJPY analysis for 18.11.2016
Comments are closed.