USD/JPY Technical Analysis: Greenback currently capped by 111.50 key resistance

USD/JPY daily chart

• USD/JPY is consolidating just below the 111.50 resistance and the 200-day simple moving average (SMA).

USD/JPY 4-hour chart

• USD/JPY is trading above its main SMAs suggesting a bullish bias in the medium-term.

USD/JPY 30-minute chart

• USD/JPY is trading above its 100 and 200 SMAs suggesting a bullish bias in the short-term.
• The key level the beat for bulls is 111.50 resistance. The next resistance is seen at the 111.80 level.
• Looking down, immediate support is at 111.00 and 110.70 level.

Additional key levels