USDJPY analysis for 06.06.2016

USDJPY seems to be less active today since there are no major economic reports. After the sharp fall on Friday, USDJPY started today with bullish bias. It is finding support at 106.27 with resistance at 107.55 which both lines are below the weekly pivot point at 108.15. The EMA of 10 dropped below the EMA of 75 indicating the sudden price fall. All indicators are signaling price decline; the MACD indicator is in negative territory, the RSI is in oversold area and the ADX is showing strong sellers. There might be lots of rebounds on the way. Sellers can open their positions at the moment and target 105.80.

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