FxWirePro: USD/JPY edges lower from session highs at 101.67, bias higher

• USD/JPY extends gradual grind higher but struggles to extend gains beyond 20-DMA.
   
• The pair edges lower from session highs at 101.67, intraday bias higher.
   
• Technical indicators on daily charts support upside. Stochs and RSI are biased higher.
   
• Bulls need to clear 20-DMA resistance at 101.53 to take gains higher. Pair then finds next major resistance at 101.93 (cloud base and major trendline).
   
• Japan Nikkei Manufacturing PMI up to 50.4 in September from previous 50.3. 
   
• Focus now on Deutsche Bank news and US ISM manufacturing release due later in the day.
   
• A report on Friday said US Department of Justice (DOJ) trimmed penalty from $14 to $5.4 billion. Neither party has officially confirmed the news.
   
• Major support levels - 101.17 (session lows), 100.95 (5-DMA), 100.75 (Sept 30 low)
   
• Major resistance levels - 101.54 (20-DMA), 101.93 (cloud base and major trendline), 102
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Recommendation: We prefer to wait for a decisive breakout above 20-DMA at 101.53 to go long.