The market was closed in Japan because of The Emperor’s Birthday ceremony on Friday. The support rests at 117.070 with resistance at 117.490 which the weekly pivot point at 117.090 is located in between the lines. The EMA of 10 is moving with bearish bias and it is located above the EMA of 200 and the EMA of 100. The RSI is falling below the 50 level, the Stochastic is moving in high ranges and the MACD indicator is in neutral territory. The ADX is showing buy signal. Buyers’ can target 118.5 area for their next destination.

usdjpy analysis