USDJPY analysis for 29.12.2016

USD is acting stronger than JPY due to the Japan economic data such as Industrial Production rate. The support rests at 116.560 with resistance at 117.020 which both lines are below the weekly pivot point at 117.360. The EMA of 10 is moving with bearish bias and it is located above the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD indicator is in neutral territory. The ADX is showing sell signal. Short positions are recommended targeting 115 area.


https://fxglory.com/usdjpy-analysis-for-29-12-2016/