- USD/JPY main bull trend is on hold since July 19.
- USD/JPY is currently consolidating lower in a bearish channel. USD/JPY found resistance at the 110.40 supply level, the bearish trendline and the 200-period simple moving average. The short-term bias is bearish with targets at the 109.91-97 area and the 109.37 June 25 swing low.
- A bull breakout above 110.58 would negate the bearish bias.
Spot rate: 110.28
Relative change: -0.02%
High: 110.51
Low: 110.02
Main trend: Bullish
Short-term trend Bearish below 110.58
Resistance 1: 110.40 supply/demand level
Resistance 2: 110.58 July 26 swing low
Resistance 3: 110.75, July 23 low
Support 1: 110.10 August 13 swing low
Support 2: 109.91-97 area, 200 and 100-day simple moving average
Support 3: 109.37 June 25 swing low
Support 4: 109.19 June 8 low
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