FxWirePro: USD/JPY rangebound amid thin trading, upside capped at 113 handle, bias neutral

USD/JPY chart on Trading View used for analysis

• USD/JPY is trading in a narrow range on holiday-thinned trading on Friday.
   
• The pair is capped below 113 handle and is currently trading at 112.90, down 0.01% on the day.
   
• The pair finds strong support at 112.83 (converged 5-DMA and cloud top).
   
• Break below will see resumption of weakness. Drag till 110-EMA at 112 likely.
   
• On the flipside, breakout above 113 handle could see test of 114 levels.

Support levels - 112.83 (5-DMA), 112 (110-EMA)

Resistance levels - 113 (21-EMA), 113.23 (22 Nov)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.