USDJPY analysis for 12.12.2017

Japan has published the Tertiary Industry Activity m/m and PPI y/y and the US will release Federal Budget Balance, 30-y Bond Auction, Core PPI m/m, PPI m/m and NFIB Small Business Index. The support rests at 113.300 with resistance at 113.540 which both lines are above the weekly pivot point at 113.010. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. Long positions are recommended towards the upper Bollinger band targeting 114.5. https://fxglory.com/usdjpy-analysis-for-12-12-2017/