USD/JPY Technical Analysis: Greenback bulls taking a breather after 80-pip run

• USD/JPY gained about  80 pips since Asia and found resistance at the 110.09 level, it is currently retracing its daily advance.  
• Support can be expected close to the 109.70 level as it is the  50% Fibonacci retracement of the last intraday upswing and a former congestion zone from last Thursday and Friday.

USD/JPY 15-minute chart

Spot rate:                  109.89
Relative change:       0.32%      
High:                        110.09
Low:                         109.30

Trend:                        Bullish            

Resistance 1:            110.00-110.21 area, figure, daily 200 SMA
Resistance 2:            110.79 May 22 low
Resistance 3:            111.41 May 21 high

Support 1                  109.70, 50% Fibonacci retracement of the last intraday upswing
Support 2:                 109.37/47 last week’s demand level and daily 10 SMA
Support 3:                 109.20, 50% Fibonacci retracement from May 29-June 6
Support 4:                 108.76, daily 50 moving average