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25 Jul 2018
USD/JPY Technical Analysis: Pair recovers over 111.00 despite constrained action
- The Dollar'Yen pairing is seeing limited bullish moves after recovering from a bottom at 110.75, and Dollar bulls are looking for a push higher.
- Current intraday action is being constrained by a lateral wedge on Hourly candles, traders will be looking for a straddle to break to either side.
USD/JPY Chart, 15-Minute
| Spot rate: | 111.25 |
| Relative change: | 0.10% |
| High: | 111.31 |
| Low: | 111.12 |
| Trend: | Flat to bullish |
| Support 1: | 110.95 (previous day low) |
| Support 2: | 110.74 ( previous week low) |
| Support 3: | 110.27 (July 4th swing low) |
| Resistance 1: | 111.53 (current week high) |
| Resistance 2: | 112.24 (61.8% Fibo retracement level) |
| Resistance 3: | 113.16 (previous week high) |