USD/JPY Technical Analysis: USD/JPY blasting to 6-month high above 111.50 level

  • USD/JPY is trading to levels not seen since January 12 high as the market is breaking out from a triangle formation on the daily chart. 
  • As USD/JPY is in a strong bull move there should be little resistance in the way up to 112.05 February low, the next key resistance.
  • Support can be expected at 111.39 May 21 swing high and in the 111.02-111.16 area, previous intraday swing lows.

USD/JPY 15-minute chart

Spot rate:                 111.51

Relative change:       0.46%     
High:                        111.65
Low:                         110.76

Trend:                       Bullish 


Resistance 1:  112.05 February 2 low
Resistance 2:  112.63 January 10 open
Resistance 3:  113.00 figure


Support 1:    111.39 May 21 swing high
Support 2:    111.02-111.16 previous intraday swing lows
Support 3:    110.90 June 15 swing high
Support 4:    110.62-75 supply level and June 21 high 
Support 5:    110.40 supply/demand level
Support 6:    110.21 June 22 high
Support 7:    109.90-110.00 area supply level and figure
Support 8:    109.55 June 19 low 

 

USD/JPY daily chart 

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