USD/JPY Technical Analysis: USD/JPY weakening below 111.00 figure

• USD/JPY bulls were unable to sustain the rally attempts above 111.00 figure on Tuesday and USD/JPY lost about 55 pips from the daily highs.  
• USD/JPY broke below the bullish trendline as bears are now testing the 110.62 supply/demand level.
• A bear breakout below 110.62 can lead towards the 110.40 supply/demand level and 110.21 June 22 high.

USD/JPY 15-minute chart

Spot rate:                 110.63

Relative change:       -0.24%      
High:                        111.15
Low:                         110.58

Trend:                       Neutral to bearish below 111.00

Resistance 1:  110.90 June 15 swing high
Resistance 2:  111.39 May 21 swing high
Resistance 3:  112.05 February 2 low

Support 1: 110.62-75 supply level and June 21 high  
Support 2: 110.40 supply/demand level
Support 3: 110.21 June 22 high
Support 4: 109.90-110.00 area supply level and figure
Support 5: 109.55 June 19 low  
Support 6: 109.20 June 8 low