USD/JPY remains confined in a trading range above 100.00 handle

The USD/JPY pair maintained its near-term range-bound price action within 50-60 pips band, above 100.00 psychological mark, and is now retracing from session high near 100.60 level to currently quote around 100.35 region.

With the greenback, as measured by the overall US Dollar Index, paring some of its Wednesday's and the prevalent cautious sentiment in equity markets is seen exerting some renewed selling pressure around the major. However, the near-term trajectory remains dependent on the Federal Reserve's monetary policy expectations, which would get fresh inputs from the scheduled speech by the Fed Chair Janet Yellen at Jackson Hole on Friday. 

On the economic data front, US durable goods orders and weekly jobless claims are scheduled for release on Thursday later during NA trading session. 

Technical levels to watch

On the downside, 100.00 round figure mark remains immediate strong support, which if broken seems to accelerate the downslide immediately towards 99.60-55 intermediate support before the pair heads back towards retesting Brexit lows support near 99.00 round figure mark.

On the flip side, 100.60 area seems to have emerged as immediate resistance, which is closely followed by resistance near 100.75-80 horizontal area. Sustained move above 100.75-80 strong horizontal resistance is likely to get extended beyond 101.00 handle but is likely to be capped at an important resistance near 101.50 region.