- USD/JPY bulls are trying to resume the bear trend as they attempted to break above 111.00 figure.
- USD/JPY failed to break above the descending trendline and the 111.00 level which is considered rather bearish. Targets are located near 110.75 and 110.58 July 26 swing low.
- A breakout above 111.16 would invalidate the short-term bearish bias.
USD/JPY 15-minute chart
Spot rate: 110.93
Relative change: 0.15%
High: 111.13
Low: 110.46
Main trend: Bullish
Short-term trend Bearish below 111.16
Resistance 1: 111.02-111.16 area, figure and current August 6 low
Resistance 2: 111.45 August 8 high
Resistance 3: 111.54-111.64 area, August 6, high and supply/demand level
Support 1: 110.90 June 15 swing high
Support 2: 110.75, July 23 low
Support 3: 110.58 July 26 swing low
Support 4: 110.40 demand level
Support 5: 110.10 August 13 low