Japan is releasing Retail Sales y/y data and the US will publish Crude Oil Inventories, Prelim GDP Price Index q/q, Prelim GDP q/q and ADP Non-Farm Employment Change.
The support rests at 109.660 with resistance at 110.040 which both lines are above the weekly pivot point at 109.260. The EMA of 10 is moving with bullish bias along the ascendant channel but it is below the EMA of 100 and the EMA of 200. The RSI is rising towards the overbought area, the Stochastic is showing upward momentum and the MACD indicator is in neutral territory. The ADX is showing buy signals.
Long positions are recommended towards 110.50.

usdjpy analysis