Investing.com - The U.S. dollar edged lower against the yen on Friday, as safe haven demand strengthened amid fresh concerns over tensions between Russia and Ukraine.
USD/JPY hit 101.50 during late Asian trade, the pair's lowest since March 4; the pair subsequently consolidated at 101.70, slipping 0.09%.
The pair was likely to find support at 101.20, the low of March 3 and resistance at 101.29, the high of March 4.
Market sentiment was hit after Russia launched new military exercises near its border with Ukraine on Thursday, showing no sign of backing down on plans to annex Crimea.
U.S. Secretary of State John Kerry said serious steps would be imposed by the U.S. and Europe if the referendum on Crimea joining Russia takes place on Sunday as planned.
Markets were also jittery after data on Thursday showed that Chinese industrial production rose 8.6% in the first two months of 2014, missing market expectations for an increase of 9.5%, while Chinese retail sales rose by a smaller-than-forecast 11.8% in the same period.
The yen was higher against the euro, with EUR/JPY edging down 0.14% to 140.99.
Later in the day, the U.S. was to release data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.