Housing Starts data was released in Japan. JPY is still in power against USD.
The support rests at 103.620 with resistance at 104.410 which the weekly pivot point at 104.190 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 200. The Stochastic is moving in low ranges, the RSI is moving below level 50. The MACD is moving in negative territory and the ADX is not showing any clear signals.
The support level breakthrough will smooth the way for further decline towards 103.300; otherwise, USDJPY will be fluctuating within the support and resistance lines.
