USDJPY analysis for 01.06.2016

USDJPY is under the influence of several economic reports such as Capital Spending q/y and Final Manufacturing PMI for JPY and Total Vehicle Sales, Construction Spending m/m, the Beige Book and ISM Manufacturing PMI for USD. The pair moved with bullish bias yesterday but could not break the 111.40 level and today it started its downward movement. The support lies at 109.980 with resistance at 111.090 which both lines are above the monthly pivot point at 109.20. The EMA of 10 is falling down and is getting close to the EMA of 75. The RSI is in negative area, the Stochastic is showing downward momentum and the ADX is showing strong sellers. The support level breakthrough will smooth the way for further decline targeting 109.70.

https://fxglory.com/usdjpy-analysis-for-01-06-2016/