FXStreet (Córdoba) - USD/JPY came under mild pressure after being rejected from fresh 2 ½-month highs as investors book profits and continue to weigh last Friday’s nonfarm payrolls report. After reaching a fresh high of 123.60, USD/JPY turned lower and gave up intraday gains weighed by falling stocks. The pair slid to a fresh daily low of 123.12 in recent dealings and it was last trading at 123.25, virtually unchanged on the day. USD/JPY technical view From a technical view, Valeria Bednarik, chief analyst at FXStreet says the pair looks overbought in short-term charts, but still with no signs of reversing. “Technical indicators look slightly exhausted towards the upside. Nevertheless, the upside remains favored, with a break above 123.80 opening doors for an advance towards the year high at 125.80”, the analyst said. For more information, read our latest forex news.