FxWirePro: USD/JPY edges higher from session lows at 103.53, focus of U.S. NFP data

• British Pound flash crash saw panic across markets and boosted the safe-haven Yen demand.
   
• USD/JPY fell to session lows at 103.53, but has since pared losses and is inching back towards 104.00 handle.
   
• NFP data likely to be the determining factor for the timing of Fed rate-hike action and hence the pair's near-term trajectory.
   
• The pair has broken and is holding above 100-DMA resistance currently at 103.61.
   
• Techs support upside, weakness only on break below 5-DMA at 103.16, drag till 20-DMA at 101.81 then likely.
   
• The lead indicators - PMI employment sub-indices, US consumer confidence, jobless claims – all point to a possibility of a blow out NFP figure.
   
• Major support levels - 103.61 (100-DMA), 103.17 (5-DMA), 103, 102.67 (Oct 5 lows), 101.86 (20-DMA)
   
• Major resistance levels - 104, 104.15 (Oct 6 highs), 104.32 (Spet 2 high)
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Recommendation: Good to buy dips around 103.80, SL: 103.10, TP: 104.32/ 105