• USD/JPY edged higher on Friday as fresh demand for the greenback outweighed concerns over a looming U.S. government shutdown.
• The U.S. government shutdown has pushed back the release of the non-farm payrolls report, prompting traders to look to private sources for labor market indicators.
•The dollar index which measures the greenback's strength against a basket of six currencies, was up 0.5% to 99.790, reversing overnight losses.
• On the data front, Japanese household spending rose 1.8% in September from a year earlier, government data showed on Friday, falling short of market expectations for a 2.5% increase.
• On a seasonally adjusted month-on-month basis, household spending fell 0.7%, compared with expectations for a 0.1% decline, according to data from the Internal Affairs Ministry.
• Immediate resistance is located at 154.56(23.6%fib), any close above will push the pair towards 155.50(Higher BB).
• Support is seen at 152.78 (38.2%fib) and break below could take the pair towards 152.48 (SMA 20)
Recommendation: Good to buy around 153.10, with stop loss of 152.50 and target price of 154.00
