JPY was weakened after BOJ deputy governor Iwata’ comments.
The support rests at 111.710 with resistance at 112.310 which both lines are above the weekly pivot point at 111.610. The EMA of 10 is moving with bullish bias but it is below the EMA of 100 and the EMA of 200. The RSI is falling towards the 50 level, the Stochastic is moving in high ranges and the MACD indicator is in neutral territory. The ADX is not showing any clear signals.
USDJPY will continue its bullish trend targeting level 50 of Fibonacci retracement.
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