USDJPY analysis for 14.07.2016

Since Japan is not releasing any economic reports today, USDJPY is under the influence of the US reports such as the Natural Gas Storage, Core PPI m/m, Unemployment Claims, and PPI m/m. The pair started today with a sharp bullish bias along with the ascendant channel. The support rests at 103.510 with resistance at 105.670 which both lines are above the weekly pivot point at 101.110. The EMA of 10 has risen towards the EMA of 200 and they are both above the EMA of 100. The RSI has reached the overbought area, the MACD indicator is in positive territory and the Stochastic has reached its highest range as well. There will be pullbacks at any time soon. Downward trend will make the price fall to 98.97.

https://fxglory.com/usdjpy-analysis-for-14-07-2016/