USDJPY analysis for 10.05.2017

Japan is publishing Leading Economic Index along with the US releasing Import and Export Prices. The support rests at 113.490 with resistance at 114.090 which both lines are above the weekly pivot point at 112.310. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving horizontally in the overbought area, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. Long positions are recommended targeting 114.50. https://fxglory.com/usdjpy-analysis-for-10-05-2017/