USDJPY analysis for 14.04.2017

USDJPY is under the influence of Industrial Production and Capacity Utilization reports in Japan and the US is publishing Inflation Rate and Retail Sales. The support rests at 108.740 with resistance at 109.190 which both lines are below the weekly pivot point at 110.900. The EMA of 10 is moving with bearish bias and it is below the EMA of 200 and the EMA of 100. The RSI is moving horizontally in oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing sell signals. The support level breakthrough will smooth the way for further decline targeting 108 area. https://fxglory.com/usdjpy-analysis-for-14-04-2017/