USDJPY analysis for 20.10.2017

There are no major economic reports in Japan or the US but it seems that the US is acting stronger than before. The support rests at 112.810 with resistance at 113.440 which both lines are above the weekly pivot point at 112.110. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving in the overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. USDJPY will continue its bullish trend towards 114.5. https://fxglory.com/usdjpy-analysis-for-20-10-2017/