Japanese stocks slipped Thursday morning on profit taking from gains the previous session. The dollar was up against the yen and euro. The Nikkei Stock Average of 225 shares fell 34.49 points, or 0.31 percent, to end morning trading at 11,246.54 points. The index climbed 63.58 points, or 0.57 percent, on Wednesday.. Stocks opened higher but quickly retreated, pulled down by profit taking. Technology heavyweights such as Sony Corp., Kyocera Corp., and Canon Inc. lost ground. Many investors avoided major activity ahead of key news events, including U.S. Federal Reserve Chairman Alan Greenspan's testimony at the joint Economic Committee later Thursday. U.S. stocks fell Wednesday as the Bush administration said the U.S. economy would likely grow at a 3.4 percent rate, a fraction less than the 3.5 percent predicted six months ago. Rising energy prices prompted the administration to increase its inflation forecast for the year.