Both USD and JPY are being supported due to the economic reports therefore it might not have any sharp fall or growth today. The support rests at 104.110 with resistance at 104.810 which both lines are above the weekly pivot point at 103.780. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100 and the EMA of 200. The RSI is moving above the 50 level, the Stochastic is moving horizontally in its maximum rate and the MACD indicator is in neutral territory. The ADX is showing stronger buy opportunity than sell. 104.8 area seems to be a strong resistance zone for this pair therefore short positions are recommended at the moment.
USDJPY analysis for 27.10.2016
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