FX.co ★ Technical analysis of USD/JPY for July 18, 2014

The pair is trying its fortune near the crucial support levels. The pair hit the 50 WSma and managed to close above that. The pair rejected at 20 WDma and again pushed lower. The nearest strong support at 100.76 levels, below this, we can see strong support at 100.20 (61.8 fib level) and the 100 mark. The short-term trend will turn more negative below 100 towards 99-98.50 levels (80.0 fib level).

Support 100.76, 100.

Resistance 101.64, 101.85, 101.91.

For an intraday basis, the pair is trading below the hourly moving averages. The pair has the nearest support at 101.07 and 100.76 levels. Until the pair trades below 101.56, it looks a bit weak.

Traders can buy with sl 101.