12 Jul 2018
USD/JPY Technical Analysis: Greenback knocking on 112.00, bolstered by trade wars
- Dollar on the rise against the JPY as markets scoop up USD on trade war concerns.
- The USD/JPY is only a few levels away from setting a new high for 2018, and reversing the year's bearish run.
- Higher timeframes have the pair consistently punching in higher lows as a bull trend extends.
USD/JPY Chart, 15-Minute
| Spot rate: | 111.92 |
| Relative change: | -0.03% |
| High: | 112.00 |
| Low: | 111.90 |
| Trend: | Bullish |
| Support 1: | 111.63 (38.2% Fibo retracement level) |
| Support 2: | 111.30 (61.8% Fibo retracement level) |
| Support 3: | 110.76 (previous day low) |
| Resistance 1: | 112.16 (previous day high) |
| Resistance 2: | 112.50 (major technical level) |
| Resistance 3: | 113.38 (January swing high; 2018 high) |