USDJPY analysis for 08.11.2016

USDJPY is chiefly under the influence of US election and the oil price. The support rests at 104.190 with resistance at 104.550 which both lines are above the weekly pivot point at 103.430. The EMA of 10 is moving with bullish bias and it has crossed the EMA of 200 and the EMA of 100. The RSI is moving above the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in neutral territory. The ADX is not showing any clear signal at the moment. Long positions are recommended targeting 105.00.

https://fxglory.com/usdjpy-analysis-for-08-11-2016/