USD/JPY Technical Analysis: Greenback moving up and knocking at 112.55 resistance post-FOMC minutes

  • USD/JPY bulls are attempting to resume the bull trend above the 200-period simple moving average.
  • USD/JPY bulls are nearing the 112.55 resistance. A break above the level would open the doors to 113.00 figure. 
  • The RSI, MACD and Stochastic indicators are in positive territories suggesting further advances.

USD/JPY 4-hour chart 

Spot rate:                         112.48
Relative change:              0.2%     
High:                                112.53
Low:                                 112.00

Main trend:               Bullish

Resistance 1:    112.55 September 27 low
Resistance 2:    113.00 figure
Resistance 3:    113.55 October 2 low
Resistance 4:    113.55 October 2 low
Resistance 5:    114.00 figure
Resistance 6:    114.80 November 2017 high
Resistance 7:    115.50 March 10, 2017 high 

Support 1:    112.00-112.17 zone, figure and August 1 swing high
Support 2:    111.84 August 29 swing high
Support 3:    111.00 figure

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