FxWirePro: USD/JPY edges higher but bulls lack punch

• 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