Monday, January 8, 2018

USDJPY analysis for 08.01.2018

There are no major economic reports in Japan but the US will release the Consumer Credit m/m data. The support rests at 113.040 with resistance at 113.360 which both lines are above the weekly pivot point at 112.80. 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 moving towards the overbought area, the Stochastic is showing upwards momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal. Long positions are recommended towards 114.

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