FxWirePro: USD/JPY pauses upside at 200-DMA, break above required for further upside

USD/JPY chart - Trading View 

• USD/JPY pauses gains at 200-DMA at 111.46, break above required for further upside.
   
• The major is trading in an extremely narrow range, with session highs at 111.45 and lows at 111.28.
   
• Technical studies support upside. Stochs and RSI are biased higher. MACD is on verge of bullish crossover on signal line.
   
• The pair has bounced off cloud support and breakout at 200-DMA eyes 76.4% Fib at 112.21.
   
• Immediate support lies at 5-DMA at 110.93. Break below cloud to see further downside.

Support levels - 111, 110.93 (5-DMA), 110.30 (cloud top)

Resistance levels - 111.46 (200-DMA), 111.60 (trendline), 112.21 (76.4% Fib)

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