USD/JPY Technical Analysis: forming a symmetrical triangle on hourly charts

   •  The pair has been oscillating between two converging trend-lines, forming a symmetrical triangle on the 1-hourly chart.

   •  Currently placed at 100-hour SMA pivot-point, subsequent up-move could get extended back towards the triangle resistance.

   •  Alternatively, a rejection slide would increase the pair's vulnerability to head back towards retesting a two-week-old ascending trend-line support.

USD/JPY 1-hourly chart

Spot Rate: 110.16
Daily Low: 109.84
Daily High: 110.22
Trend: Range-bound

Resistance
R1: 110.56 (R1 daily pivot-point)
R2: 110.76 (overnight swing high)
R3: 111.00 (round figure mark)

Support
S1: 110.00 (psychological round figure mark)
S2: 109.43 (50-day SMA)
S3: 109.20 (June 8 swing low)