USDJPY in under the influence of Trump’s speech regarding his tax reform.
The support rests at 112.130 with resistance at 112.910 which the weekly pivot point at 112.600 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is falling towards the oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing weak buy signals.
As long as USDJPY is moving below 113 area, short positions are recommended.

usdjpy analysis