USD/JPY Technical Analysis: USD/JPY consolidating bear slide near 110.50 level

• USD/JPY is consolidation the bear breakout from Tuesday.
• USD/JPY is now finding resistance at the 100-period simple moving average and as long as USD/JPY stays below 110.62 the bear leg should remain in place.  
• Supports to the downside are seen near 110.40 demand level and 110.21 June 22 high.

USD/JPY 15-minute chart  

Spot rate:                 110.49

Relative change:      -0.07%      
High:                        110.63
Low:                         110.27

Trend:                       Neutral to bearish below 110.62

Resistance 1:  110.62-75 supply level and June 21 high  
Resistance 2:  110.90 June 15 swing high
Resistance 3:  111.39 May 21 swing high
Resistance 4:  112.05 February 2 low

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