|

USD/JPY Technical Analysis: USD/JPY supported above 111.00 level

  • USD/JPY is in its fourth day of consolidation after the currency pair broke to the upside on July 31. 
  • USD/JPY is struggling to find a clear direction, however, bulls have a slight advantage as they have the long-term trend on their side. 
  • Bulls objective is to reconquer the 111.82-112.00 area to target 113.18, the 2018 high. Bears want a bear breakout below the 111.02-111.16 area in order to initially retake the swing low at 110.58.

USD/JPY 15-minute chart

USD/JPY daily chart

Spot rate:                 111.39
Relative change:      0.15%     
High:                        111.54
Low:                         111.14

Trend:                       Neutral to bullish

Resistance 1:  111.39 May 21 swing high
Resistance 2:  111.64 supply/demand level
Resistance 3:  111.82-112.00 area, supply level and figure
Resistance 4:  112.19-112.40 area, July 11 high and intraday swing low 
Resistance 5:  112.64 July 12 high
Resistance 6:  113.18, 2018 high
Resistance 7:  113.26-113.38, 200-weekly simple moving average and January 8 high
Resistance 8:  114.45 October 27, 2017 high 


Support 1:    111.02-111.16 area, figure and current August 6 low
Support 2:    110.90 June 15 swing high
Support 3:    110.75, July 23 low
Support 4:    110.58 July 26 swing low
Support 5:    110.27 July 4 low

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

More from Flavio Tosti
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD holds steady above 1.1750 as traders await FOMC Minutes

The EUR/USD pair holds steady near 1.1770 during the early Asian session on Tuesday. Traders continue to price in the prospect of further rate cuts by the US Federal Reserve in 2026, following the 25-basis-point rate reduction delivered at the December meeting. The release of the Federal Open Market Committee Minutes will be in the spotlight later on Tuesday.

GBP/USD finds key support near 1.35 despite year-end grind

GBP/USD remains bolstered on the high end as markets grind through the last trading week of the year. Cable caught a bullish tilt to keep price action on the high side of the 1.3500 handle, though year-end holiday volumes are unlikely to see significant progress in either direction as 2025 draws to a close.

Gold rebounds to near $4,350 after Monday's 4+% correction

Gold is bouncing to near $4,350 early Tuesday, helped by renewed US Dollar weakness and a dismal mood. Gold was hit sharply by profit-taking on Monday during US trading hours and retreated towards $4,300, where buyers reappeared.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries, adoption of AI and tokenization of Real-World-Assets.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).