7 Aug 2018
USD/JPY Technical Analysis: USD buyers looking to launch from 111.00
- The USD/JPY is struggling to hold onto slim gains in recent weeks, putting the brakes on a slide from last week's high above the 112.00 handle.
- Current action is pricing in a floor near 111.00 as Greenback bulls prepare to make a push higher.
- Daily candlesticks still have the Dollar-Yen pairing embedded in a bullish trend, and the USD is seeking to make another higher low on longer-term timeframes.
USD/JPY Chart, 15-Minute
| Spot rate: | 111.32 |
| Relative change: | -0.06% |
| High: | 111.40 |
| Low: | 111.22 |
| Trend: | Bullish to sideways |
| Support 1: | 111.12 (current week low) |
| Support 2: | 110.73 (previous week low) |
| Support 3: | 110.58 (July 26th swing low) |
| Resistance 1: | 111.52 (current week high) |
| Resistance 2: | 111.74 (61.8% Fibo retracement level) |
| Resistance 3: | 112.14 (previous week high) |