USDJPY analysis for 09.02.2017

The high demand for the US Treasury bond yields supported the USD. The support rests at 111.900 with resistance at 112.460 which both lines are below the weekly pivot point at 113.180. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising towards the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. The ADX is showing buy signals. USDJPY is rising towards the 38.2 level of Fibonacci targeting 113 area. https://fxglory.com/usdjpy-analysis-for-09-02-2017/