In U.S. trading on Friday, USD/JPY was trading at 98.14, down 1.12%, up from a session low of 97.56 and off a high of 99.42.
The pair was likely to find resistance at 99.77, Thursday's high, and support at 97.56, the earlier low.
In the U.S. earlier, the Bureau of Economic Analysis revealed in a preliminary report that the U.S. gross domestic product rose 2.5% in the first quarter, missing expectations for a 3.0% increase though an improvement from a 0.4% rise in the previous quarter.
The news weakened the dollar by fueling sentiments that the Federal Reserve's monetary stimulus programs will stay in place for longer than expected.
Stimulus tools such as the Fed's monthly USD85 billion bond-buying program weaken the greenback to spur recovery.
Elsewhere, the Thomson Reuters/University of Michigan's consumer sentiment index rose to 76.4 in April, from a reading of 72.3 the previous month, beating expectations for an increase to 73.2.
The yen, meanwhile, saw demand after the Bank of Japan concluded a monetary policy meeting leaving interest rates unchanged and made no mention of expanding stimulus programs
The Japanese currency was up against the pound and up against the euro, with GBP/JPY down 0.86% and trading at 151.87 and EUR/JPY trading down 1.04% at 127.80.