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17 Jul 2018
USD/JPY Technical Analysis: Dollar bumping higher heading into Tuesday
- The Dollar is seeing some lift heading into Tuesday's action.
- Another speech from the US Fed's Powell is due for Wednesday, and Greenback bulls are looking forward to another showing from the head of the key central bank.
- Last week's lift may have sent the pair into a new recent high, potentially triggering a new leg lower.
USD/JPY Chart, 15-Minute
| Spot rate: | 112.41 |
| Relative change: | 0.12% |
| High: | 112.44 |
| Low: | 112.22 |
| Trend: | Flat to bearish |
| Support 1: | 112.00 (major technical level) |
| Support 2: | 111.53 (61.8% Fibo retracement level) |
| Support 3: | 110.76 (July 11th swing low) |
| Resistance 1: | 112.44 (current day high) |
| Resistance 2: | 112.55 (current week high) |
| Resistance 3: | 112.79 (previous week high) |