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FXstreet.com (Barcelona) - With the exception of a brief falter below the 85.95 mark (intraday minimum) earlier today, the USD/JPY has held above the 86.00 level Friday, undeterred after a recent rise this week as investors flock towards the yen for sanctuary given the proximity to the "fiscal cliff" deadline. Overnight, the pair traded up to a new 28-month high of 86.64, however presently the cross has settled in the region of 86.19/23.

The technical analyst team at Mataf.net cites the next resistive measures at 86.91, followed by 87.29, onto 87.95. On the decline, and particularly in the event of an explosion of risk appetite, the USD/JPY will face calculated support at 85.87, then 85.21, and finally 84.82.

Friday is relatively muted on the data front, as any pertinent economic information was revealed during the overnight session. Investors will instead focus on the ongoing fiscal cliff negotiations, ever receptive of any signs of compromise or optimism, whose absences have reportedly shackled the process for months.

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