National CPI, National CPI ex Fresh Food and PMI Manufacturing were released in Japan and the US will publish Crude Oil Inventories.
The support rests at 103.400 with resistance at 103.760 which the weekly pivot point at 103.930 is located above the lines. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 100 and the EMA of 200. The Stochastic is showing upward momentum, the RSI is rising towards level 50. The MACD is moving in neutral territory and the ADX is showing buy signal.
The resistance level breakout will smooth the way for further growth towards the upper Bollinger band at 104.200; otherwise, USDJPY will continue its bearish trend towards 103.200.