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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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