(Action Economics) - 11-Jan-12 05:35 - USD-JPY traded just shy of 77.00 after strong Japanese support from 76.80 and dollar supportive flows encouraged slightly firmer levels.

However, order congestion restricted ranges, with Japanese real money and semi official bids keeping the downside in check ahead of 76.50, while exporters are on top from 77.00.

The JPY crosses saw limited activity, with EUR-JPY marking time around 98.00 after yesterday's short covering rally fell short of buy stops above 98.50.

AUD-JPY headed back to 79.00 in line with broader Aussie interest and after 79.60 offers held.

Japanese data included a fall in the leading coincident index indicator by 1.1 points in November, while the leading indicator rose 0.9 points and Japan's foreign reserves fell to $1.30 tln at the end of December.

Elsewhere, PM Noda is hoping to appoint Okada as his deputy PM in order to ease the path to a sales tax hike, according to the local media.

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