FxWirePro: USD/JPY retakes 104 handle, intraday bias higher

• Broad-based US dollar rally supports upside in USD/JPY, major retakes 104 handle.
   
• Holds strong support by 100-DMA on Thursday's trade, weakness only on break below.
   
• Stronger Chinese CPI data-driven risk-on market profile also provides extra leg to the recovery in the USD/JPY pair.
   
• Data released earlier today showed China's PPI turned positive for the first time in 55 months, while CPI bettered estimate to print at 1.9%. 
   
• Fedspeaks and US retail sales data due ahead in the U.S. session will be in focus for further impetus.
   
• Major support levels - 103.79 (5-DMA), 103.30 (100-DMA), 103, 102.85 (Oct 7 low)
   
• Major resistance levels - 104.63 (Oct 13 high), 105, 105.60 (July 29 high)
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Recommendation: Good to long dips around 103.90/104, SL: 103.30, TP: 104.60/ 105/ 105.60