USD/JPY Technical Analysis: Dollar on the rise as safe haven Yen falls away, rising channel continues unabated

  • Dollar extends recovery against the Yen as rising channel continues.
  • Wednesday will have traders looking towards the upcoming Fed meeting.
  • A boost for the Greenback here would send the pair back significantly into early 2018 levels.

USD/JPY Chart, 1/-Hour

110.45
Relative change: 0.09%
High: 110.54
Low: 110.33

Trend: Bullish

Support 1: 110.15 (50-hour EMA)
Support 2: 109.97 (previous day low; major psychological level)
Support 3: 109.28 (current week low)

Resistance 1: 110.54 (current week high)
Resistance 2: 111.39 (one-month high)
Resistance 3:110.78 (R1 1-Month pivot)

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