USD/JPY Technical analysis: bulls target the 114.73 November 2017 high

The downtrend is being eroded on the weekly sticks.
Targets the 113.27 the 200-week ma before the 114.73 November 2017 high.

Ross J Burland FXStreet

Spot rate: 112.64

High: 112.70
Low: 112.51

Trend: Bullish daily, although 5-min chart RSI turning out of overbought territory, leaning bearish.

Resistance 1: 112.70
Resistance 2: 200-week moving average at 113.27
Resistance 3: major resistance at 114.00-25

Resistance 4: 114.735 November 2017 high.

Support 1: 112.50
Support 2: 111.90
Support 3: 111.39/58 recent high and the 2015-2018 downtrend,

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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