- The pair found support at 110.80, 2-month uptrend line: break lower likely to trigger another leg lower.
- Short-term bearish pressure to ease if rises above 111.20/30, 2-day downtrend line.
- Pair consolidates between 111.35 and 110.80 while dominant trend still points to the downside.
USD/JPY Daily chart
Spot rate: 110.92
Relative change: -0.23%
High: 111.38
Low: 110.81
Trend: Bearish
Resistance 1: 111.15
Resistance 2: 111.40 (20-day MA)
Resistance 3: 112.05
Support 1: 110.80 (trendline)
Support 2: 110.50
Support 3: 110.30