T Analysis

USDJPY analysis for 07.10.2019

Japan released the Leading Indicators and the US will publish Consumer Credit m/m.

The support rests at 106.550 with resistance at 107.000 which both lines are below the weekly pivot point at 107.290. 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 showing downward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The resistance line breakout will push the price up towards 107.30; otherwise the bearish trend will be targeting 106.400.

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Source: fxglory