Tertiary Industry Index and Prelim Machine Tool Orders were released in Japan. Yesterday USDJPY faced a decline about 62 pips.
The support rests at 107.850 with resistance at 108.510 which the weekly pivot point at 109.800 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The Stochastic is showing upward momentum, the RSI is growing towards level 50. The MACD is moving in neutral territory and the ADX is not showing any clear signals.
Considering the global weakness of USD which supports the bearish pressure, 107.500 can be targeted.