USDJPY analysis for 12.10.2017

Japan has published Tertiary Industry Index MoM and the US will release Initial Jobless Claims and Core PPI MoM. The support rests at 112.220 with resistance at 112.600 which both lines are below the weekly pivot point at 112.790. The EMA of 10 is moving with bearish bias in the ascendant channel but it is above the EMA of 200 and the EMA of 100. The RSI is moving below the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing weak buy signals. Despite the bearish signals, the support area seems to be too strong to be broken therefore, the price will grow towards 113 area. https://fxglory.com/usdjpy-analysis-for-12-10-2017/