USD/JPY Technical Analysis: Greenback bulls back on the forefront challenging 112.55 key level

• USD/JPY is trading sideways in the 112.00-113.00 range.
• USD/JPY bulls need to overcome the 100 and 200-period simple moving averages in order to reclaim higher prices.  
• The market remains supported by the 50 SMA and the 112.00 figure but a close above 113.00 is needed for extra-confirmation.

USD/JPY 4-hour chart

Spot rate:                         112.56
Relative change:              0.28%      
High:                                112.65
Low:                                 111.82

Main trend:                Bullish

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