USD/JPY Technical Analysis: USD/JPY losing steam below 110.00 level

• USD/JPY bulls failed to regain the ground lost on Thursday.
• USD/JPY is losing momentum as it is trading below its daily 200-period simple moving average.  
• If bears can keep USD/JPY below the 110.00 figure in the coming days, bulls can give up potentially opening the gates to further losses.  

USD/JPY 15-minute chart

Spot rate:                  109.94              

Relative change:     -0.04%      
High:                         110.23
Low:                         109.80

Trend:                       Neutral to bearish        

Resistance 1: 110.23-110.27 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: 109.84-110.00 area, daily 20-period SMA and figure    
Support 2: 109.55 June 19 low
Support 3: 109.19 June 8 low