USD bulls are currently trying to reintegrate the former bull channel. If they can bring the market above the 110.56 supply and potentially form a base in the 110.23-110.56 area, the bulls have a chance to bring USD/JPY back to the 111.00 figure and maybe to 111.41 May 21 high. On the other hand, if USD bulls fail to break above the 110.23-110.56 area, it is reasonable to expect stalling movements or even a rotation down back towards the 109.50 level. USD/JPY 15-minute chart Spot rate: 110.43 Relative change: -0.12% High: 110.46 Low: 109.84 Trend: Bullish Resistance 1: 110.56 supply zone Resistance 2: 110.92-111.00 last week’s high and figure Resistance 3: 111.41 May 21 high Resistance 4: 112.00 January 2 low Support 1: 110.23-110.28 area, weekly 50-period SMA, daily 200-period SMA Support 2: 109.90, daily 5-period SMA, 100-period SMA (1h) Support 3: 109.37/47, daily 10 SMA FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD Technical Analysis: Kiwi meltdown en route to 2018 low FX Street 3 years USD bulls are currently trying to reintegrate the former bull channel. If they can bring the market above the 110.56 supply and potentially form a base in the 110.23-110.56 area, the bulls have a chance to bring USD/JPY back to the 111.00 figure and maybe to 111.41 May 21 high. On the other hand, if USD bulls fail to break above the 110.23-110.56 area, it is reasonable to expect stalling movements or even a rotation down back towards the 109.50 level. USD/JPY 15-minute chart Spot rate: 110.43 Relative change: … Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
