FX.co ★ Technical Analysis of USD/JPY for July 15, 2014

The pair has been trying its fortune at the crucial support of 50-W Sma. In last week's session, the pair hit support and managed to close above that. The pair has a weekly resistance at the 101.91 (20-W Sma) levels. In Asia's session, the pair opened with a minor bullish bias at 101.53. It is facing resistance at 101.66, 101.73 (20-D Sma) and 101.90 (50-D Sma). If closing a session above 101.90, we see can a sharp run towards 102.30 and 102.80 levels.

On an intraday basis, the pair is trading above the hourly moving averages, which is a bullish sign. The pair has an intraday support at 101.53 and 101.40 levels and an immediate resistance at 101.64 (8-hr high). The hourly Stochstics are indicating an overbought sign. Fresh buy will be gainful only above the 101.66 levels. It will face some selling below 101.40.