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  • USD/JPY is trading in a bull trend above the 200-period simple on the 4-hour chart.
  • USD/JPY bulls have been trying hard to break above 113.55 resistance in the last weeks but their effort has not paid off so far. The MACD indicator is turning bearish while the Stochastic is pointing downwards.  
  • The bullish momentum is slowing. In the absence of a break above 113.55, the bears could take the lead and drive the market below the 113.00 support en route to 112.55 support.  

USD/JPY 4-hour chart

Main trend:               Bullish

Resistance 1:    113.55 October 2 low
Resistance 2:    114.00 figure
Resistance 3:    114.57 October high

Support 1:    113.00 figure
Support 2:    112.55 September 27 low
Support 3:    112.00-112.17 zone, figure and August 1 swing high
Support 4:    111.00 figure
Support 5:    110.35 September Low
Support 6:    109.75 August low

 
Additional key levels at a glance:

USD/JPY

Overview:
       Last Price:  113.19
       Daily change:  -3.0  pips
       Daily change:  -0.0265%
       Daily Open:  113.22
Trends:
       Daily SMA20:  112.52
       Daily SMA50:  112.39
       Daily SMA100:  111.73
       Daily SMA200:  109.95
Levels:
       Daily High:  113.35
       Daily Low:  113.08
       Weekly High:  113.4
       Weekly Low:  111.78
       Monthly High:  114.56
       Monthly Low:  111.38
       Daily Fibonacci 38.2%:  113.24
       Daily Fibonacci 61.8%:  113.18
       Daily Pivot Point S1:  113.08
       Daily Pivot Point S2:  112.94
       Daily Pivot Point S3:  112.8
       Daily Pivot Point R1:  113.35
       Daily Pivot Point R2:  113.49
       Daily Pivot Point R3:  113.63