USDJPY is volatile due to stock and commodity markets’ instability.
The support rests at 104.590 with resistance at 105.070 which both lines are below the weekly pivot point at 106.280. 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 RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is showing buy signals.
USDJPY may start its correction pattern soon however, the support level breakthrough will drop the price down to 100 area.
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