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  • USD/JPY bulls are trying to keep the main bull trend going.
  • USD/JPY is trading at weekly highs after finding some resistance just below the 112.50 level.  Failure to break above the level can lead to a pullback down towards 111.84 (August 29 swing high) as the RSI and Stochastics indicator are slowly losing steam and not confirming the new high.  
  • A sustained bull breakout above 112.50 might lead to a continuation up to 113.18 (2018 high).  

USD/JPY 4-hour chart

Spot rate:                 112.31
Relative change:       -0.05%      
High:                        112.46
Low:                         112.17

Main trend:               Bullish  

Resistance 1:    112.50 figure
Resistance 2:    113.18, 2018 high
Resistance 3:    114.00 figure

Support 1:    112.00-112.17 zone, figure and August 1, swing high
Support 2:    111.84 August 29 swing high
Support 3:    111.84 August 29 swing high
Support 4:    111.54 August 6, high  
Support 5:    111.45 August 8 high
Support 6:    111.00 figure
Support 7:    110.75, July 23 swing low
Support 8:    110.00 figure
Support 9:    109.37 June 25 low