USD/JPY Technical Analysis: US Dollar bulls finding resistance at 112.55 yet again

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  • USD/JPY is trading near the 200-period simple moving average (SMA) as the market has been trading sideways since October 10.
  • USD/JPY bulls are trying to resume the bull trend as the market is finding some support above the 50 SMA. 
  • A clear break above 112.55 would open the gates to 113.00 figure and 113.55 (October 2 low).

USD/JPY 4-hour chart 


	USD/JPY Technical Analysis: US Dollar bulls finding resistance at 112.55 yet again

Spot rate:                         112.53
Relative change:              0.28%     
High:                                112.66
Low:                                 112.13

Main trend:               Bullish

Resistance 1:    112.55 September 27 low
Resistance 2:    113.00 figure
Resistance 3:    113.55 October 2 low
Resistance 4:    113.55 October 2 low
Resistance 5:    114.00 figure
Resistance 6:    114.80 November 2017 high
Resistance 7:    115.50 March 10, 2017 high 

Support 1:    112.00-112.17 zone, figure and August 1 swing high
Support 2:    111.84 August 29 swing high
Support 3:    111.00 figure

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