USD/JPY intraday bias higher, good to go long on dips

FX:USDJPY   U.S. Dollar/Japanese Yen
333 0 9
USD/JPY             hits fresh highs for the week, trades 0.75% higher on the day at 101.42.

Asian indices were trading on a higher note on Thursday after Yellen’s testifies. Yellen’s kept alive possibility of rate hike in November.

Also Japan’s MOF says stands ready to intervene if USD/JPY             breaches 100.00.

Technical indicators have turned positive, we see scope for test of 20-DMA at 101.79.

RSI is biased north, while stochs are showing a rollover from oversold levels.

Break above 101.79 finds next hurdle at major trendline at 102.15. Upside could accentuate on break above.

Major support levels - 101.08 (10-DMA), 101, 100.78 (5-DMA), 100.65 (session low)

Major resistance levels - 101.79 (20-DMA), 102, 102.15 ( trendline )

Good to buy dips around 101.35/40, SL: 101, TP: 101.75/ 102/ 102.15
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out