Tuesday, May 30, 2017

USDJPY analysis for 29.05.2017

There are no economic reports in the US and Japan to influence USDJPY. The support rests at 110.990 with resistance at 111.590 which the weekly pivot point at 111.340 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and above the EMA of 200. The RSI is moving below the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in neutral territory. The ADX is not showing any clear signals. USDJPY seems too weak to break the resistance line therefore short positions are recommended at the moment. https://fxglory.com/usdjpy-analysis-for-29-05-2017/

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