USDJPY analysis for 14.12.2017

Japan has published Revised Industrial Production m/m and the US will release Natural Gas Storage, Flash Services PMI, Flash Manufacturing PMI, Unemployment Claims, Retail Sales m/m and Core Retail Sales m/m. The support rests at 112.460 with resistance at 112.860 which both lines are below the weekly pivot point at 113.010. The EMA of 10 is moving with bearish bias in the descendant channel but it is above the EMA of 200 and the EMA of 100. The RSI is rising towards the 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal. The price may continue its bearish trend towards the 61.8 level of Fibonacci at 111.9. https://fxglory.com/usdjpy-analysis-for-14-12-2017/