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  • USD/JPY lost about 90 pips on Thursday as bulls tried to break above last week’s high at 110.91.
  • After the 90-pip drop USD/JPY is testing the 110.00 figure and yesterday’s low as it is attempting to find support.  
  • USD/JPY also tested the 100 and 200-period simple moving average on the 4-hour chart which are located in the 109.90 area.  

USD/JPY 15-minute chart

Spot rate:                 110.00
Relative change:       -0.33%      
High:                        110.77
Low:                         109.85

Trend:                       Bullish        

Resistance 1: 110.23-110.28 area, weekly 50-period SMA, daily 200-period SMA
Resistance 2: 110.56 supply zone
Resistance 3: 110.92-111.00 last week’s high and figure
Resistance 4: 111.41 May 21 high

Support 1: 110.00 figure      
Support 2: 109.55 June 19 low
Support 3: 109.19 June 8 low