USDJPY analysis for 03.10.2019
Japan is not releasing any major economic reports today but the US will publish Natural Gas Storage, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Claims and Challenger Job Cuts y/y.
The support rests at 106.860 with resistance at 107.390 which both lines are below the weekly pivot point at 107.690. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, 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 chart has created a double top; it might fall towards 106.50 but then it will grow again.