USD/JPY Technical Analysis: Technical weakness building up as bull run continues

• USD/JPY trading higher as market risk appetite remains bid.
• MACD, Slow Stochastics both beginning to rollover in overbought territory.
• Bearish MACD divergence indicating a softening in buying action.

USD/JPY Chart, 1-Hour

Spot price: 109.85
Relative change: 0.04%
High: 110.00
Low: 109.77

Trend: Bullish

Support 1: 109.52 (50-hour EMA)
Support 2: 109.37 (week's low)
Support 3: 108.72 (month's low)

Resistance 1: 110.00 (day's high, major handle)
Resistance 2: 110.50 (R3 1-Day pivot)
Resistance 3: 111.40 (May swing high)