USDJPY analysis for 03.06.2016

USDJPY is under the influence of several economic reports such as Average Cash Earnings y/y in Japan and ISM Non-Manufacturing PMI, Factory Orders m/m, Final Services PMI, Unemployment Rate, Non-Farm Employment Change, Trade Balance, and Average Hourly Earnings m/m in the US. USDJPY is trading below the weekly pivot point at 110.40 with bearish bias. The support rests at 108.090 with resistance at 109.390. The EMA of 10 is having a sharp downward trend crossing the EMA of 75. The RSI is below the 50 level and the MACD indicator is in negative territory showing the price decline. The pair may continue its fall targeting 108.20 however, the resistance level breakout can bring the price higher to 110.15.

https://fxglory.com/usdjpy-analysis-for-03-06-2016/