analysis

USDJPY analysis for 05.02.2019

Japan has published Nikkei Services PMI and the US will release Markit Services PMI Final and ISM Non-Manufacturing PMI.
The support rests at 109.620 with resistance at 110.240 which both lines are above the weekly pivot point at 109.250. 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 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.
USDJPY is growing upward slowly to recover from the previous downfall. Buyers can target 110.5.

usdjpy
Source: fxglory