USD/JPY mildly negative at 101.15, remained stuck in a trading range

The USD/JPY pair continues to struggle for direction and remained stuck around 101.15-20 band. 

The pair failed to extract any momentum from slightly higher-than-expected weekly jobless claims data from the US. According to the data released, the weekly unemployment claims for the week ending July 29 came-in at 269k as against 265k expected and 266k in the previous week. 

Earlier, the pair had a muted reaction to BOE-led volatility in the FX market. Moreover, sentiment surrounding equity markets also failed to provide any impetus for the pair ahead of the most keenly watched US economic indicator, monthly jobs report (NFP), which would assist them to determine the pair's near-term direction.

Technical levels to watch

Immediate resistance is pegged around 101.60-65 region (session high) ahead of 102.00 round figure mark and 102.38 (Monday's closing). Support below 100.88 (Wednesday's open) can be found at 100.68 (weekly low) and 99.99 (July 8 low).