- The crucial Non-Farm Payrolls on Friday would help investors determine the Federal Reserve's next monetary policy move.
- NFP is the main driver for the greenback in the near-term ahead of the FOMC meeting in Sept.
- USD/JPY breaks above 55-EMA at 103.25, intraday bias higher.
- Major support levels - 103.25 (55-EMA), 103, 102.63 (50-DMA), 102.58 (38.2% Fib).
- Major resistance levels - 104, 104.40 (trendline), 104.45 (61.8% Fib).
- Break below 50-DMA (102.67) could see test of 101.75. Bearish resumption on break below 20-DMA at 101.24.
Recommendation: Good to go long on dips, SL: 103, TP: 104/ 104.20.