• USD/JPY is extending grind higher, but upside seen struggling to extend gains beyond 20-DMA.
   
• Markets saw a 60 pip spike in the pair in the last hour, specific catalyst not clear.
   
• Spike was quickly faded but intraday bias still remains higher.
   
• Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-intraday-bias-higher-good-to-go-long-on-dips-324015) has hit TP1.
   
• Major support levels - 101, 100.95 (10-DMA), 100.78 (5-DMA), 100.65 (Sept 29 low)
   
• Major resistance levels - 101.64 (20-DMA), 102, 102.15 (trendline)
   
• We recommend booking partial profits, hold for upside.
   
• Bullish invalidation below 100 handle. Violation there could see test of 99.54 and then 98.78 levels.