USDJPY analysis for 18.12.2017

Japan has released Trade Balance data and the US will publish NAHB Housing Market Index. The support rests at 112.500 with resistance at 112.870 which the weekly pivot point at 112.790 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on the 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals. The pair will grow along the Andrews’ Pitchfork towards 112.8 but it will drop to 111.5. https://fxglory.com/usdjpy-analysis-for-18-12-2017/