USD/JPY Technical Analysis: USD/JPY bulls testing the 112.50 resistance level

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  • USD/JPY bulls are extending the bull trend by testing the 112.50 resistance. 
  • USD/JPY is trading above its 50, 100 and 200-period simple moving averages (SMA) which are rising and widening suggesting a bullish bias. The market is also trading above the bull trendline which is considered bullish.
  • If bulls are able to keep the market above 112.50 the next objective is 113.18, 2018 high. 

USD/JPY 4-hour chart

Spot rate:                 112.50
Relative change:       0.22%     
High:                        112.54
Low:                         112.04

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

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