JPY is not affected by any specific news factor for today but instead USD performance is mixed with bearish and bullish pattern. Despite the fact that US has created many new jobs in comparison to the last year, the average wage growth will lead to the inflationary pressure increase. USDJPY has been declining since March highest point at 114.440 which led the pair to a sharp fall to 110.619 but bulls tried to push the price higher to 113.822 but could not break the 114.440 level and the price has been falling down the descendant channel ever since. The EMA of 100 is above the EMA of 50. The MACD indicator is in negative territory confirming the bearish pattern and the RSI is staying below the 50 level. Good news for sellers, the price is falling and it might go down to 109.80.
https://fxglory.com/technical-analysis-of-usdjpy-dated-05-04-2016/
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