USD/JPY Technical Analysis: USD/JPY gathering strength for a breakout to 113.00 figure.

• USD/JPY is in consolidation mode for the eight day in a row as buyers want to resume the main bull trend. 
• The 50-period simple moving average (SMA) on the 4-hour chart broke above the 100 and 200 SMA suggesting that the market is gathering some bullish momentum. USD/JPY is also progressing above a bullish trendline. 
• If bulls manage to break above the bear trendline the market can target the 112.00 and 113.00 figures. 

USD/JPY 4-hour chart

Spot rate:                 111.43
Relative change:      0.33%     
High:                        111.55
Low:                         110.89

Main trend:               Bullish 

Resistance 1:    111.45 August 8 high
Resistance 2:    111.54-111.64 area, August 6, high and supply/demand level
Resistance 3:    112.00-112.15 zone, figure and August 1, swing high
Resistance 4:    112.40 supply level
Resistance 5:    113.18, 2018 high

Support 1:    111.00 figure
Support 2:    110.75, July 23 low
Support 3:    110.00 figure
Support 4:    109.37 June 25 low

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