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17 Aug 2018
USD/JPY Technical Analysis: Cycling near 111.00 on indecisiveness
- The Dollar-Yen pair has been trapped near the 111.00 major handle recently, unable to develop momentum in either direction for the past two weeks.
- Bears' failure to break the 110.00 technical barrier could see bulls make a continuation higher.
- The Greenback could be heading for further gains heading into 2018 as a perceived Dollar shortage pushes the USD upwards and trade tensions remain close at hand.
USD/JPY Chart, 1-Hour
| Spot rate: | 110.86 |
| Relative change: | Negligible |
| High: | 111.04 |
| Low: | 110.78 |
| Trend: | Sideways |
| Support 1: | 110.42 (previous day low) |
| Support 2: | 110.10 (current week low) |
| Support 3: | 110.00 (major technical level) |
| Resistance 1: | 111.11 (previous day high) |
| Resistance 2: | 111.42 (current week high) |
| Resistance 3: | 112.14 (four week top) |