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

• 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 slightly bullish, we see scope for test of 20-DMA at 101.79. Break above finds next hurdle at major trendline at 102.15. 
   
• 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)
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Recommendation: Good to buy dips around 101.35/40, SL: 101, TP: 101.75/ 102/ 102.15