USDJPY analysis for 31.05.2017

Japan is releasing Housing Starts y/y and Prelim Industrial Production m/m data along with the US publishing Beige Book, Pending Home Sales m/m and Chicago PMI reports. The support rests at 110.710 with resistance at 111.190 which both lines are below the weekly pivot point at 111.430. 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 negative territory. The ADX is not showing any clear signals. It seems that the pair will continue its bearish trend targeting 110 ar https://fxglory.com/usdjpy-analysis-for-31-05-2017/