FxWirePro: USD/JPY recovery stalls at 104.82, edges lower to trade around the 104 handle

• A major turnaround in the risk sentiment was seen after the Brexit campaign was suspended after a British member of parliament was shot dead on Thursday.
   
• The incident causing deep shock across Britain and the suspension of campaigning for next week's referendum, its impact on the referendum is till unclear.
   
• USD/JPY edged higher from multi-year lows of 103.54 to hit highs of 104.82 on the day.
   
• But recovery stalls at 104.82, the pair slipping as we write, trades closer to the 104 handle.
   
• Traders largely ignore the latest mixed US data release as the broader market sentiment continues to drive the yen markets. 
   
• Due later in the NY session are a set of US housing data which will be watched for fresh incentives as dust settles over the Fed and BOJ aftermath.
   
• Run-up to the Brexit referendum to keep demand for the safe-haven Yen. Upticks could be used for buying opportunities.
   
• On hourly charts, we see the pair has bounced off upper Bollinger band, Stochs have rolled over from oversold and RSI is biased lower.
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Recommendation: Good to sell rallies around 104.30, Sl: 104.75, TP: 104/103.75/103.55