USD/JPY Technical Analysis: Bears keep the market below the 113.00 figure leaving the door open for a drop to 112.00 level

USD/JPY is trading in a trading range between 112.00 and 113.00 figure.
USD/JPY is having a hard time to move beyond 113.00 figure as the technical indicators are losing bullish momentum.
Odds for a test of the 112.00 figure may well be on the cards in the coming sessions.

Flavio Tosti Independent Analyst

USD/JPY 4-hour chart

Spot rate: 112.49
Relative change: 0.06%
High: 112.76
Low: 112.32

Main trend: Neutral

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

Support 1: 112.55 September 27 low
Support 2: 112.00-112.17 zone, figure and August 1 swing high
Support 3: 111.84 August 29 swing high
Support 4: 111.00 figure

Author

Flavio Tosti

Independent Analyst

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