USD/JPY Technical Analysis: Confined in ranges below 111.20

• USD/JPY continues to consolidate below the bearish trendline. 
• USD/JPY bulls want to resume the bull trend but they need to start making higher highs and higer lows. 
• Bulls objective is to breakout above 111.02-111.16 area in order to resume to bull trend. On the flip side, bears want to breakout below 110.58 July 26 swing low in order to create a bearish reversal.

USD/JPY 15-minute chart

USD/JPY daily chart

Spot rate:                 110.74
Relative change:      -0.30%     
High:                        111.19
Low:                         110.60

Trend:                       Bullish / Bearish reversal below 110.58 July 26 swing low

Resistance 1:  110.90 June 15 swing high
Resistance 2:  111.02-111.16 area, figure and current August 6 low
Resistance 3:  111.45 August 8 high
Resistance 4:  111.54-111.64 area, August 6, high and supply/demand level
Resistance 5:  111.82-112.00 area, supply level and figure
Resistance 6:  112.19-112.40 area, July 11 high and intraday swing low 
Resistance 7:  112.64 July 12 high
Resistance 8:  113.18, 2018 high
Resistance 9:  113.26-113.38, 200-weekly simple moving average and January 8 high
Resistance 10:  114.45 October 27, 2017 high 

Support 1:    110.75, July 23 low
Support 2:    110.58 July 26 swing low
Support 3:    110.27 July 4 low