In European afternoon currency trading, USD/JPY hit 86.26, its lowest since December 1 last year.
The currency pair later rose slightly to trade at 86.66, down 0.84 percent on the day.
According to forex analysis, USD/JPY was likely to touch support around 84.8, the low of November 27, 2009, and encounter immediate resistance around the daily high, 87.5.
Also Friday, the Bank of Japan raised its economic assessment in eight of the country’s nine regions. In its monthly report, the central bank said conditions improved from three month ago as the economic recovery remained on track.
Meanwhile, the yen soared versus the euro: EUR/JPY traded at 112.22, down 0.81 percent on the day.