Japan released the BOJ Policy Rate, Monetary Policy Statement, Prelim Industrial Production m/m and Unemployment Rate while the US will publish Pending Home Sales m/m, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, Personal Income m/m, Personal Spending m/m and Core PCE Price Index m/m.
The support rests at 108.170 with resistance at 108.790 which the weekly pivot point at 108.400 is located in between the lines. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving on 50 level, the Stochastic is showing downward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
USDJPY is most probably creating a correction pattern towards 61.8 level of Fibonacci but for today sellers can target 38.2 level of Fibonacci at 108.270.
