USD/JPY Technical Analysis: US Dollar losing momentum ahead of FOMC

USD/JPY is testing the 100-period simple moving average on the 15-minute chart as it broke slightly below Tuesday’s high.
Bulls are currently losing momentum as USD/JPY broke below the ascending trendline.
The FOMC is likely the next catalyst for USD-related currency pairs, it is scheduled at 18:00 GMT. Join Fed Live Coverage - Today at 17:30 GMT click here.

Flavio Tosti Independent Analyst

USD/JPY 15-minute chart

Spot rate: 110.43
Relative change: 0.06%
High: 110.73
Low: 110.33

Trend: Bullish

Resistance 1: 110.56, Tuesday’s high
Resistance 2: 111.00 figure
Resistance 3: 111.41 May 21 high

Support 1: 110.23-110.28 area, last week's high, weekly 50-period SMA, daily 200
Support 2: 109.90 daily 5-period SMA, 100-period SMA (1h)
Support 3: 109.37/47 last week’s demand level and daily 10 SMA

Author

Flavio Tosti

Independent Analyst

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