USD/JPY Technical Analysis: Greenback in a run-up ahead of North Korean summit

• USD/JPY spiking higher ahead of Trump-Kim meeting.
• A turnaround at the 110.50 level could be the impetus for a false break, putting the bears back in control.
• A soured Trump-Kim summit could quickly see safety flights reverse and send the pair tumbling; short-term traders should be careful to keep positions tightly managed.

USD/JPY Chart, 1-Hour

Spot rate: 110.41
Relative change: 0.34%
High: 110.49
Low: 109.97

Trend: Bullish

Support 1: 110.00 (major psychological handle, current day's low)
Support 2: 109.28 (current week's low)
Support 3: 108.11 (one-month low)

Resistance 1: 111.39 (one-month high)
Resistance 2: 112.75 (1-Month R2 pivot)
Resistance 3: 113.38 (2018 high)