USDJPY analysis for 05.10.2016

By the risk-appetite growth, JPY fell. The support rests at 102.610 with resistance at 103.050 which both lines are above the weekly pivot point at 101.070. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in its high ranges and the MACD indicator is in positive territory heading up. The chart seems bullish at the moment, long positions are recommended with the target at resistance zone.

https://fxglory.com/usdjpy-analysis-for-05-10-2016/