Japan has published the Housing Starts y/y, Retail Sales y/y and Prelim Industrial Production m/m data and the US will release Crude Oil Inventories, Pending Home Sales m/m, Chicago PMI, Prelim GDP Price Index q/q and Prelim GDP q/q.
The support rests at 106.850 with resistance at 107.450 which the weekly pivot point at 106.950 is located in between the lines. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on the 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 signal.
Short positions are recommended towards 106.30.
usdjpy
