USD/JPY Technical Analysis: US Dollar bulls extend the advance past 110.00 handle

• USD/JPY keeps grinding higher and finds an intraday resistance at 110.22, the daily 200-period simple moving average.
• A strong breakout above 110.22 can open the gates to 110.79 May 22 low. 
• However, as USD/JPY is rather extended to the upside, it is reasonable to expect pullbacks towards the 110.00 handle and the 109.47 June 5 low before any new significant bull breakout.
• The bullish activity in US Treasury yields underpins USD/JPY.

USD/JPY 15-minute chart

Spot rate:                110.12
Relative change:     0.32%     
High:                       110.25
Low:                        109.77

Trend:                     Bullish

Support 1:              109.85-110.00 area, 100-period SMA (4-hour) and handle.
Support 2:              109.47 June 5 low
Support 3:              109.00 handle

Resistance 1:         110.21-110.30 area, daily 200-period SMA and demand zone mid-May
Resistance 2:         110.79 May 22 low
Resistance 3:         111.41 May 21 high