USD/JPY Technical Analysis: Consolidating above 111.00 figure

• USD/JPY is trading inside yesterday’s range still holding on above the 111.00 level and the daily trendline from March, 26. 
• USD/JPY bulls are trying to put an end to the bearish pullback of the last three days but they need to overcome the 200-period simple moving average and the 111.60-111.80 area. 
• On the flip side bears, want a breakout below 111.02-111.16 area and 110.75, July 23 low. 

USD/JPY 15-minute chart 

Spot rate:                 111.27
Relative change:      -0.06%     
High:                        111.53
Low:                         110.95

Trend:                       Bullish / Bearish correction  

Resistance 1:  111.39 May 21 swing high
Resistance 2:  111.60-111.80 area, 23.6% and 38.2% Fibonacci retracement low/high July 11
Resistance 3:  112.19-112.40 area, July 11 high and intraday swing low 
Resistance 4:  112.64 July 12 high
Resistance 5:  113.18, 2018 high
Resistance 6:  113.26-113.38, 200-weekly simple moving average and January 8 high
Resistance 7:  114.45 October 27, 2017 high 

Support 1:    111.02-111.16 previous intraday swing lows
Support 2:    110.75-110.90, July 23 low and June 15 swing high
Support 3:    110.27 July 4 low