analysis

USDJPY analysis for 09.11.2018

There are no major economic reports in Japan but the US will release Michigan Consumer Sentiment Prel.
The support rests at 113.700 with resistance at 114.040 which both lines are above the weekly pivot point at 112.790. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is falling towards the 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
While considering pullbacks on the way, it seems that USDJPY is growing up towards 114.4.

usdjpy
Source: fxglory