USDJPY analysis for 20.10.2016

The USD is getting weak due to the economic reports in the US. The support rests at 103.390 with resistance at 103.770 which both lines are below the weekly pivot point at 103.870. The EMA of 10 is moving with bearish bias and it is located above the EMA of 100. The RSI is moving on the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. Short positions are recommended with the target at 103 area.

https://fxglory.com/usdjpy-analysis-for-20-10-2016/