Japan has published Consumer Confidence, Housing Starts YoY and BoJ Iwata Speech and the US will release ADP Employment Change, Employment Cost Index QoQ and Pending Home Sales MoM.
The support rests at 108.400 with resistance at 109.220 which both lines are below the weekly pivot point at 109.370. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below 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 signals.
The support level break through will smooth the way for further decline targeting 107.5, otherwise the price will be fluctuating within the upper and lower Bollinger bands.

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