USD/JPY Technical Analysis: US Dollar bulls finding resistance at 112.55 yet again

USD/JPY is trading near the 200-period simple moving average (SMA) as the market has been trading sideways since October 10.
USD/JPY bulls are trying to resume the bull trend as the market is finding some support above the 50 SMA.
A clear break above 112.55 would open the gates to 113.00 figure and 113.55 (October 2 low).

Flavio Tosti Independent Analyst

USD/JPY 4-hour chart

Spot rate: 112.53
Relative change: 0.28%
High: 112.66
Low: 112.13

Main trend: Bullish

Resistance 1: 112.55 September 27 low
Resistance 2: 113.00 figure
Resistance 3: 113.55 October 2 low
Resistance 4: 113.55 October 2 low
Resistance 5: 114.00 figure
Resistance 6: 114.80 November 2017 high
Resistance 7: 115.50 March 10, 2017 high

Support 1: 112.00-112.17 zone, figure and August 1 swing high
Support 2: 111.84 August 29 swing high
Support 3: 111.00 figure

Author

Flavio Tosti

Independent Analyst

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