2-way trades likely, given political risks heading into the weekend, but maintained bias to lean against strength. Resistance at 147.80 (21, 50 DMAs), 148.30 levels (200 DMA, 23.6% fibo retracement of Apr low to Jul high). We expect JPY weakness to reverse when political uncertainty fades and that BoJ to proceed with policy normalization. Wage growth, broadening services inflation and upbeat economic activities in Japan should continue to support BoJ policy normalization. Near term, concerns of duration of US government shutdown provides another tailwind for JPY strength amid proxy demand for safe haven plays."