- USD/JPY unable to hold gains above 104 handle, edges lower from session highs at 104.38.
- Finds major trendline support at 104, break below could see drag upto 103.50.
- Cautious sentiment around equity markets underpins the safe-haven Yen appeal.
- Major support levels - 104, 103.72, 103.52, 103.38 (20-DMA)
- Major resistance levels - 104.28 (1H 5-SMA), 104.33 (1H 20-SMA), 104.65 (trendline)
Recommendation: Short break below 104, SL: 104.35, TP: 103.55/ 103.35
