Overview:
USD/JPY continues to range-trade. The rate is underpinned by buying of the yen crosses amid positive global risk sentiment (S&P surged 1.3% on Friday) on 20.7% jump in U.S. online Black Friday sales, signs international creditors edging toward deal to unlock Greece's next tranche of aid, and better-than-expected German Ifo business climate data. USD/JPY is also supported by expectations that opposition Liberal Democratic Party will win elections next month and introduce aggressive monetary easing; rising USDJPY interest differential; demand from Japan importers. But USD/JPY upside is limited by Japan exporter sales; profit-taking on JPY-shorts; lingering concerns about U.S. fiscal cliff of tax increases and spending cuts as U.S. lawmakers reconvene negotiations after Thanksgiving break.
Preference:
Sell below 82.6 with 82 and 81.75 in sight.
Support Levels:
S1 - 82.06 (Friday's low)
S2 - 81.65 (Wednesday's low)
S3 - 81.13-81.08 (Tuesday's low-Nov. 19 low)   
Alternative scenario:
Buy above 82.6.The upside penetration of 82.6 will call for 82.85 and 83.
Resistance Levels:
R1 - 82.84 (Thursday's seven-and-a-half month high)
R2 - 83.00
R3 - 83.39 (March 27 high)   
Technical Comment: 

The pair stands below its new resistance and remains under pressure.USD/JPY daily chart is mixed as MACD is bullish, 5- & 15-day moving averages are rising; but stochastics is bearish at overbought.