FxWirePro: USD/JPY back below 104 handle as disappointing Chinese trade data boosts safe-haven yen appeal

• Rising bets of a December Fed rate-hike action following Wednesday's release of FOMC minutes buoyed USD.
   
• USD/JPY hit 104.64, the highest level since July 29 in early Asian session before paring gains to slip below 104 handle.
   
• Disappointing Chinese trade data saw renewed risk-off across markets and supported demand for safe-haven yen.
   
• 100-DMA at 103.36 is strong support on the downside, breach there would see drag till 102 levels.
   
• Major support levels - 103.36 (100-DMA), 103.11 (10-DMA), 103, 102.85 (Oct 7 low)
   
• Major resistance levels - 104, 104.63 (session high), 105
  ​

Recommendation: Good to short break below 103.35, SL: 104, TP: 102.80/ 102