USD/JPY extends correction from 7-month highs

By FXstreet.com | August 28, 2014 AAA

FXStreet (Córdoba) - The USD/JPY is again losing a few pips Thursday, extending its pullback from 7-month highs as the dollar rally loses steam amid month-end flows.



The USD/JPY slid to a fresh weekly low of 103.67 during the Asian session but subsequent trading was largely directionless as investor await the release of US economic data, including the Q2 GDP revision.



USD/JPY technical levels



At time of writing, the USD/JPY is trading at 102.73, recording a 0.13% loss on the day. As for technical levels, the pair could find immediate supports at 103.50 (Aug 22 low) and 103.08 (Jul 30 high). On the other hand, resistances are seen at 104.16 (Aug 26 high), 104.27 (Aug 25 high) and 104.84 (Jan 23 high).



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