Overview:
USD/JPY is consolidating in lower range after hitting seven-and-a-half month high of 82.84 on Thursday. Liquidity is thin in Asia as Japan markets shut for holiday. USD/JPY is underpinned by expectations that the Liberal Democratic Party will win elections next month and introduce aggressive monetary easing to beat deflation and the strong yen - LDP leader Abe told the Wall Street Journal currency interventions to drive the yen lower have been ineffective and are not on his mind, so he will turn to the Bank of Japan to address the yen's strength through monetary policy. USD/JPY is also supported by rising USD-JPY interest differential, sell-yen orders from Japan importers; buying of the yen crosses amid positive risk appetite (FTSE 100 rose 0.68%, Xetra DAX gained 0.84%) on upbeat November HSBC China manufacturing PMI data and expectations that a deal to unlock Greece's next tranche of aid would eventually be reached between European authorities and the IMF. But USD/JPY upside is limited by buy-yen orders from Japan exporters; positions adjustment before weekend.
Preference:
Sell below 82.6 with 82.1 and 81.65 in sight.
Support Levels:
S1 - 82.1
S2 - 81.65 (Wednesday's low)
S3 - 81.13-81.08 (Tuesday's low-Monday's low).  
Alternative scenario:
Buy above 82.6. The upside breakout of 82.6 will open the way to 82.85 and 83.
Resistance Levels:
R1 - 82.84 (Thursday's high)
R2 - 83.00
R3 - 83.39 (March 27 high)
Technical Comment:
The pair is breaking below its support and remains under pressure. USD/JPY daily chart is mixed as MACD is bullish, 5- & 15-day moving averages are rising; but stochastics turned bearish at overbought; bearish doji shooting-star candlestick pattern completed on Thursday.