USD/JPY Technical Analysis: Greenback bulls counter-attack see USD/JPY challenging 110.75 level

• USD/JPY rose about 40 pips from daily lows on broad-based USD demand.  
• USD/JPY is currently finding some resistance at 110.75 near June 21 high and last Friday’s high.
• A bull breakout above 110.75 should see USD/JPY trade higher towards 110.90, June 15 swing high and 111.39, May 21 swing high, in the near-future.

USD/JPY 15-minute chart

Spot rate:                 110.38

Relative change:        0.24%      
High:                        110.78
Low:                         110.35

Trend:                       Bullish  

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