USD/JPY Technical Analysis: Bears keep the market below the 113.00 figure leaving the door open for a drop to 112.00 level

• USD/JPY is trading in a trading range between 112.00 and 113.00 figure.  
• USD/JPY is having a hard time to move beyond 113.00 figure as the technical indicators are losing bullish momentum.  
• Odds for a test of the 112.00 figure may well be on the cards in the coming sessions.  

USD/JPY 4-hour chart  

Spot rate:                         112.49
Relative change:              0.06%      
High:                                112.76
Low:                                 112.32

Main trend:               Neutral

Resistance 1:    113.00 figure
Resistance 2:    113.55 October 2 low
Resistance 3:    113.55 October 2 low
Resistance 4:    114.00 figure
Resistance 5:    114.80 November 2017 high
Resistance 6:    115.50 March 10, 2017 high  

Support 1:    112.55 September 27 low
Support 2:    112.00-112.17 zone, figure and August 1 swing high
Support 3:    111.84 August 29 swing high
Support 4:    111.00 figure