USD gained momentum due to the positive economic reports in the US. The support rests at 110.600 with resistance at 111.420 which both lines are above the weekly pivot point at 109.520. The EMA of 10 is moving with bullish bias along the ascendant channel 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. The chart seems to be bullish therefore buyers can target 112.00 area.
USDJPY analysis for 21.11.2016
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