USD/JPY technical analysis: Greenback consolidates gains above the 110.00 figure

USD/JPY daily chart

USD/JPY has challenged the 110.50 level and the 50 SMA. 

USD/JPY 4-hour chart

USD/JPY is making higher highs and lower lows on the 4-hour chart suggesting bullish momentum in the medium term.

USD/JPY 30-minute chart

USD/JPY has been correcting on Wednesday and managed to hold above the 110.00 mark and the 200 SMA. Bulls will likely try to regain 110.70 to the upside. Further north lies the 111.00 figure if the bulls gather enough steam above the 110.70 resistance. Immediate support is at 110.25, 110.05 and 109.80.

Additional key levels