FXstreet.com (California) - As Dow Jones Newswires reports, Japan?s economy minister said Friday that the government will release on Monday a list of suggestion for how the next administration, expected to be formed next week once Prime Minister Naoto Kan steps down, should respond to the strong yen.

Kan is expected to announce his resignation as party leader later Friday and the list of measures will include possible government funding and employment support for companies.

On the technical front, USD/JPY finally broke out of its tight range near 77.00 and the focus now shifts to the upside, back to the 78.50 region. As traders at Thomson Reuters ? IFRMarkets note, ?We now look to buy dips back towards Monday?s high which is now seen as initial support. Back below 76.47 is now needed to see our attention shift back towards a retest of historic lows at 75.94.?

At the time of writing, USD/JPY is quoted in the 77.30 price zone, down from its session high of 77.50. To the downside, support levels lie at 77.25, 77.00 and 76.50, while resistance levels lie at 77.70, 78.00 and 78.30.