USDJPY analysis for 02.08.2017

Japan is releasing the Consumer Confidence and Monetary Base y/y data along with the US publishing Crude Oil Inventories and ADP Non-Farm Employment Change. The support rests at 110.160 with resistance at 110.960 which both lines are below the weekly pivot point at 111.130. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is rising towards the 50 level, the Stochastic is moving in high ranges and the MACD indicator is in negative territory. The ADX is showing buy signals. USDJPY will continue its bearish trend towards 109 area. https://fxglory.com/usdjpy-analysis-for-02-08-2017/