USD/JPY Technical Analysis: bulls looking to hold 111.00

The US Dollar continues to grind higher against the safe-haven Yen as markets stabilize after last week's risk-off plunge on Turkey contagion fears.
US-CHina trade war angst continues to bubble just beneath the surface; a resurgence of negative trade headlines could see market anxieties bid the JPY back up.
Technical indicators are beginning to warn of overbought conditions for the Greenback just above the 111.00 handle.

Joshua Gibson FXStreet

USD/JPY Chart, 1-Hour

Spot rate:	111.22
Relative change:	0.10%
High:	111.24
Low:	111.10

Trend:	Bullish

Support 1:	111.00 (major technical level)
Support 2:	110.58 (previous day low)
Support 3:	110.10 (current week low)

Resistance 1:	111.36 (61.8% Fibo retracement level)
Resistance 2:	112.14 (two-week high)
Resistance 3:	112.44 (R3 weekly pivot)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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