USDJPY analysis for 25.04.2017

Japan is releasing SPPI y/y data and the US is publishing some economic reports such as Richmond Manufacturing Index and New Home Sales. The support rests at 109.850 with resistance at 110.510 which both lines are above the weekly pivot point at 108.880. The EMA of 10 is moving with bullish bias along the ascendant channel but it is below the EMA of 200 and the EMA of 100. The RSI is moving horizontally in the overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. The price is above the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend. Long positions are recommended targeting 111. https://fxglory.com/usdjpy-analysis-for-25-04-2017/