USD/JPY Technical Analysis: Struggles to sustain above 113.00 handle ahead of FOMC decision

   •  Resurgent USD demand helped the pair to bounce off an important support marked by a three-week-old ascending trend-line on the 1-hourly chart.

   •  Technical indicators on the mentioned chart have started gaining positive traction, albeit bulls once again seemed struggling above the 113.00 handle.

   •  Investors seemed to position cautiously ahead of the highly anticipated FOMC decision, which will help determine the next leg of directional move.
 

USD/JPY 1-hourly chart

Spot Rate: 112.99
Daily Low: 112.75
Trend: Bullish until holds above an ascending trend-line support

Resistance
R1: 113.18 (July month swing high)
R2: 113.32 (R3 daily pivot-point)
R3: 113.64 (Dec. 21 high)

Support
S1: 112.75 (current day swing low)
S2: 112.41 (200-period SMA H1)
S3: 112.00 (round figure mark)