The USD/JPY appears bounced off the 200-day simple moving average (SMA) in April, and seems to be maintaining a long-term uptrend after a multi-month bearish correction throughout 2017 so far. USD/JPY Daily Chart(click to enlarge)Key Resistance:- The daily chart shows that price has been rebounding after tagging 108.00. - We could be seeing a bullish reversal. - However, we should still first anticipate resistance as price approaches a falling resistance. Also note the 100-day simple moving average (SMA).Key Support:- Now if the market is indeed in a bullish reversal against the 2017 bearish correction, we should anticipate support around 110, where we can see a couple of support and resistance pivots as well as a rising trendline.- A break below 109 on the other hand would reflect a market still in consolidation/bearish correction.