The British referendum made JPY more attractive which leads to the USDJPY price decline. The pair dropped to 99.011 this morning but it is moving up again. The support rests at 98.705 with resistance at 104.374 which both lines are below the weekly pivot point at 105.00. The EMA of 10 is falling down sharply and is below the EMA of 75. The RSI has already passed the oversold area and is climbing up, the MACD indicator is in neutral territory and the Stochastic is making a change and is moving up. The upward trend will target 106.50 so long positions are recommended at the moment.
USDJPY analysis for 24.06.2016
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