USDJPY analysis for 24.07.2020
Corporate Service Price Index was released in Japan.
The support rests at 106.00 with resistance at 106.780 which both lines are below the weekly pivot point at 107.04. 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.
Sellers can target the previous low at 106.050.