USD/JPY Technical Analysis: USD loses value against Yen now sub-112.00 figure

• USD/JPY continued the fall initiated on Thursday as it has now found support at the 111.60-111.80 area.
• As the current bearish momentum is rather strong,  the correction might extend some more, potentially to 111.39 May 21 swing high. Resistances are seen near the 112.19-112.40 area and 112.64 July 12 high.
• US President Trump criticized interest rate hikes in the last two days and it hurt the USD. 

USD/JPY 15-minute chart

Spot rate:                 111.80

Relative change:      -0.59%     
High:                        112.64
Low:                         111.56

Trend:                       Bullish /Bearish correction

Resistance 1:  112.19-112.40 area, July 11 high and intraday swing low 
Resistance 2:  112.64 July 12 high
Resistance 3:  113.18, 2018 high
Resistance 4:  113.26-113.38, 200-weekly simple moving average and January 8 high
Resistance 5:  114.45 October 27, 2017 high 

Support 1:    111.60-111.80 area, 23.6% and 38.2% Fibonacci retracement low/high July 11
Support 2:    111.39 May 21 swing high
Support 3:    111.02-111.16 previous intraday swing lows
Support 4:    110.90 June 15 swing high