USDJPY analysis for 20.12.2017

Japan has released All Industries Activity m/m data and the US will publish Crude Oil Inventories and Existing Home Sales. The support rests at 112.620 with resistance at 113.280 which the weekly pivot point at 112.790 is located in between the lines. 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 rising towards the overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal. The price may grow towards the resistance area, but it will drop to lower Bollinger band towards 112. https://fxglory.com/usdjpy-analysis-for-20-12-2017/