USD/JPY Technical Analysis: USD/JPY consolidating recent gains trading near 112.50

  • USD/JPY is struggling to keep the bull momentum going this Friday as the market is currently reversing the gains made earlier in the day. 
  • USD/JPY is now trading below its 50 and 100-period simple moving averages suggesting that the market is entering a consolidation phase after the recent 260-pip bull run.
  • Near-term supports are seen near the 112.40 intraday swing low and 112.19, July 11 high while resistances are seen near 112.64 July 12 high and 112.82, the current Friday’s high.

USD/JPY 15-minute chart 

Spot rate:                 112.42

Relative change:       -0.12%     
High:                        112.82
Low:                         111.37

Trend:                       Neutral

Resistance 1:  112.64 July 12 high
Resistance 2:  112.82 July 13 high
Resistance 2:  113.38 January 8 high
Resistance 3:  114.45 October 27, 2017 high 

Support 1:    112.40  intraday swing low 
Support 2:    112.19, July 11 high
Support 3:    111.60-111.80 area, 23.6% and 23.2% Fibonacci retracement low/high July 11
Support 4:    111.39 May 21 swing high
Support 5:    111.02-111.16 previous intraday swing lows
Support 6:    110.90 June 15 swing high

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.