USDJPY analysis for 18.08.2017

Japan is not releasing any economic reports but the US is publishing Prelim UoM Inflation Expectations and Prelim UoM Consumer Sentiment. The support rests at 109.100 with resistance at 109.460 which both lines are below the weekly pivot point at 109.600. 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 falling towards the oversold area, the Stochastic is showing downward momentum and the MACD indicator is in neutral territory. The ADX is showing sell signals. USDJPY will continue its bearish trend towards 108.5. https://fxglory.com/usdjpy-analysis-for-18-08-2017/