Japan is not releasing any economic data today but the US will publish Crude Oil Inventories, Trade Balance and Current Account.
The support rests at 110.140 with resistance at 110.660 which the weekly pivot point at 110.440 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
The support level breakthrough may push the price down towards the lower Bollinger band at 109.700 however the support line seems to be too strong to be broken. While considering pullbacks on the way, USDJPY may grow towards 110.800.
