USDJPY analysis for 15.02.2017

Japanese Industrial production supported JPY against USD. The support rests at 114.160 with resistance at 114.680 which both lines are above the weekly pivot point at 112.860. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located above the EMA of 100 and below the EMA of 200. The RSI is moving horizontally in overbought area, the Stochastic is moving in high ranges and the MACD indicator is in positive territory. The ADX is showing buy signals. Long positions are recommended targeting 114.700. https://fxglory.com/usdjpy-analysis-for-15-02-2017/