Retail Sales came lower than forecasted in Japan. USDJPY will be chiefly under the influence of economic reports in the US.
The support rests at 104.030 with resistance at 104.480 which the weekly pivot point at 103.730 is located below the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The Stochastic is moving in high ranges, the RSI is moving in overbought area. The MACD is moving in positive territory and the ADX is showing buy signal.
The resistance level breakout will confirm the bullish trend towards 105; otherwise USDJPY will be fluctuating below the resistance line.
