While Trump’s speech left a negative impact on USD, JPY is being supported by the Manufacturing PMI.
The support rests at 113.250 with resistance at 113.850 which both lines are below the weekly pivot point at 114.240. The EMA of 10 is moving horizontally and it is below the EMA of 200 and the EMA of 100. The RSI is falling below the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended targeting 112 area.

usdjpy analysis