USDJPY analysis for 13.02.2017

USD was empowered due to Trump’s decision regarding the “One China” policy. The support rests at 113.470 with resistance at 114.110 which both lines are above the weekly pivot point at 113.150. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100 and below the EMA of 200. The RSI is moving horizontally close to the overbought area, the Stochastic is moving in high ranges and the MACD indicator is in positive territory. The ADX is showing buy signals. The price is above the Ichimoku Cloud and below Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Long positions are recommended targeting 114.551. https://fxglory.com/usdjpy-analysis-for-13-02-2017/