USDJPY analysis for 05.09.2016

USDJPY is chiefly under the influence of US monthly jobs report. This pair is moving with bearish bias creating a correction pattern after the growth to 104 area. The support rests at 103.160 with resistance at 104.240 which both lines are above the monthly pivot point at 102.150. The EMA of 10 is moving with bearish bias and it is located above the EMA of 100. The RSI is falling down towards the 50 area, the Stochastic is showing downward momentum and the MACD indicator is in positive territory heading down. Sellers can target the support level for their short positions at the moment.

https://fxglory.com/usdjpy-analysis-for-05-09-2016/