Thursday, in early Asian session the Japanese yen ticked up against rivals as a weaker-than-expected Japan's final fourth quarter GDP report prompted investors toward the safe-haven Japanese currency.

Japan's GDP expanded by 0.9% in the fourth quarter of 2009 compared to the previous three months, the Cabinet Office said today. That was weaker than expectations for a 1% gain compared to the 1.1% increase indicated in last month's preliminary report.

The Japanese stock market is trading firm today with investors picking up several blue chip stocks despite economic growth falling a bit short of an earlier estimate. The benchmark Nikkei 225 index, which rose to around 10,663, is currently trading at 10,654, up 90.1 points or 0.85% over its previous close.

As for the other markets in the Asia-Pacific region, Shanghai, Malaysia and South Korea are trading modestly higher. Australia, New Zealand, Singapore and Taiwan are also up in positive territory.

The yen that slumped to a 15-day low of 124.03 against the euro, 84.87 against the Swiss franc and 90.83 against the US dollar on Wednesday gained ground in early Asian trading on Thursday. By 9:10 pm ET, the Japanese yen reached as high as 123.14 against the euro, 84.29 against the franc and 90.29 against the greenback. Thereafter, the yen moved sideways and is currently quoted at 123.24 against the euro, 84.38 against the Swiss franc and 90.35 versus the greenback, compared to Wednesday's New York session closing values of 123.63, 84.64 and 90.53, respectively.

The yen that closed Wednesday's New York session at 135.61 against the pound drifted higher to 135.05 around 9:35 pm ET. On the upside, the Japanese currency may find resistance around the 134.90 level in near-term.

The yen climbed to 87.98 against the Canadian dollar by 9:35 pm ET, compared to 88.39 hit late New York Wednesday. If the yen gains further, it may find resistance around the 87.80 level in near-term. Currently, CAD/JPY pair is quoted at 88.10.

The Japanese yen also advanced to 82.36 against the Australian dollar at this time and this may be compared to Wednesday's New York session closing value of 82.90. On the upside, the yen may find target around the 82.20 level. Currently, AUD/JPY pair is quoted at 82.40.

The Japanese yen jumped to a 2-day high of 63.07 against the NZ dollar by 9:35 pm ET, up 2 percent from yesterday's 16-day low of 64.37. If the yen strengthens further, resistance level is seen at 62.8. NZD/JPY pair that was worth 63.60 at Wednesday's North American session close is currently quoted at 63.09.