USD/JPY sheds ~15 pips to trade back.....>

DOLLAR-YEN: USD/JPY sheds ~15 pips to trade back around the Y108.50 level after

Thursday's U.S. equity bid supported the rate, resulting in a session high of

Y109.68. The downtick in the Nikkei 225 may have weighed on the cross in early

Asia trade, softening to lows after the Tokyo cash equity re-open.

- Local data has been in focus, although had no real impact on the rate, retail

sales were a touch soft, industrial production was virtually in line with exp,

with the core Tokyo CPI prints a touch stronger than expected, while there was a

surprise downtick in the unemployment rate.

- Elsewhere, there were no standouts in the summary of opinions from the BoJ's

Dec meeting.

- The December 2 high at Y109.73 continues to provide the initial key resistance

level, while support is seen at the 21-DMA (Y109.17).