USDJPY analysis for 21.05.2020
Trade Balance, PMI Manufacturing and PMI Composite were published in Japan and the US will release Unemployment Claims, Continuing Claims and ISM Manufacturing.
The support rests at 107.410 with resistance at 107.890 which both lines are above the weekly pivot point at 107.160. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is moving above 50 level, the Stochastic is moving in high ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
While the bullish pressure remains, the upper Bollinger band at 108 is expected.