USD/JPY Technical Analysis: Greenback bulls push USD/JPY near daily highs to 110.40 level

• USD/JPY is currently trading at daily highs near the 110.40 level as it is trading at the top of the bullish channel.  
• The momentum is bullish and support is seen near 110.21 June 22 high and 109.90-110.00 area supply level and figure.  
• USD/JPY has already exceeded its average daily range of 68 pips, however, a spike higher to 110.62 can be on the cards if the bulls keep pressing their bets.  

USD/JPY 15-minute chart

Spot rate:                 110.33

Relative change:      0.25%      
High:                        110.40
Low:                         109.67

Trend:                       Bullish

Resistance 1: 110.40 current Wednesday’s high
Resistance 2: 110.62-75 supply level and June 21 high
Resistance 3: 111.00 figure

Support 1: 110.21 June 22 high
Support 2: 109.90-110.00 area supply level and figure
Support 3: 109.55 June 19 low  
Support 4: 109.20 June 8 low  
Support 5: 108.70 demand level