USD/JPY Technical Analysis: Greenback bulls wake up and test weekly high near 110.00 level
|- USD/JPY is currently testing the weekly high at 110.05.
- USD/JPY broke above the bearish trendline and is currently trading above the 200-period simple moving average on the 15-minute time-frame suggesting a bullish bias for the coming sessions.
- USD/JPY exceeded its average daily range as it tested Monday’s high, therefore it is reasonable to expect some profit-taking in the coming hours.
Spot rate: 109.95
Relative change: 0.16%
High: 110.06
Low: 109.37
Trend: Bullish
Resistance 1: 109.90-110.00 supply level, figure
Resistance 2: 110.21 June 22 high
Resistance 3: 110.56 supply level
Support 1: 109.48-109.55, daily 50-period SMA June 19 low
Support 2: 109.20 June 8 low
Support 3: 108.70 demand level
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