USDJPY analysis for 21.07.2017

There are no economic reports in the US or Japan to influence USDJPY therefore the market will have low volatility. The support rests at 111.730 with resistance at 112.170 which both lines are below the weekly pivot point at 113.080. 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 horizontally below the 50 level, the Stochastic is moving in middle ranges and the MACD indicator is in negative territory. The ADX is not showing any clear signals. Short positions are recommended towards 111. https://fxglory.com/usdjpy-analysis-for-21-07-2017/