JPY gained momentum due to the Export and Import data on Monday. The support rests at 116.560 with resistance at 118.600 which the weekly pivot point at 117.240 is located in between the lines. 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 rising towards the overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signal. Long positions are recommended targeting 119.00.
USDJPY analysis for 20.12.2016
Comments are closed.