USD/JPY Technical Analysis: Greenback on the back foot trading sub-110.50 level

USD/JPY daily chart

• USD/JPY is consolidating below its 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 below its main SMA suggesting bearish momentum in the short-term.
• Bears are pressuring the daily lows and they need to break below 111.30 to reach 110.80 key support.
• Looking up, resistance can be expected at 111.50 and 111.80 level.

Additional key levels