FxWirePro: USD/JPY extends gains above 104 handle, bias higher, good to long dips

• USD index hit fresh nine-month highs just below the 98 handle, supported by upbeat US manufacturing and general risk-on mood.
   
• USD/JPY posted a daily high at 104.49 and is currently hovering around 104.43 with a bullish intraday bias.
   
• The pair has breached 110-EMA at 104.28, techs support upside. Bullish invalidation only below cloud top at 103.51.  
• 5-DMA at 103.96 is strong support on the downside, upside intact as long as support holds.
   
• Major support levels - 104.25 (1H 20-SMA), 104, 103.96 (5-DMA), 103.51 (cloud top), 103.22 (20-DMA)
   
• Major resistance levels - 104.63 (Trendline & Oct 13 high), 105, 105.60 (July 29 high)
   
• US house price data along with consumer confidence and Fed speaks will be in focus.
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Recommendation: Good to long dips around 104.25, SL: 103.50, TP: 104.60/ 105/ 105.60