USD/JPY Technical Analysis: Greenback dwindling below 112.00 figure

USD/JPY 4-hour chart

• The USD/JPY is trading above its main SMAs suggesting bullish momentum in the near term. 
• The market is trading in a sideways consolidation as bulls will need to break above 112.00 in order to travel towards 112.75 resistance. 
• As the recent USD strength seems to be overdone a pullback down should not be excluded with 111.55 as key support followed by 110.86 to the downside.

Additional key levels