* Investors take profits ahead of long weekend * Short-term overheating seen in market * Exporters, Fast Retailing and Toray fall By Thomas Wilson TOKYO, Nov 21(Reuters) - Japanese stocks skidded on Friday as selling ahead of a long weekend and signs of short-term overheating offset a boost from a solid Wall Street performance rooted in U.S economic strength.

The Nikkei average shed 0.7 percent to 17,172.82 by 0120 GMT, leaving the benchmark on course to snap a run of four weeks of gains.

Before a holiday on Monday, "Investors are locking in gains in major shares," said Masayuki Otani, chief market analyst of Securities Japan, Inc.

On Thursday, the 25-day ratio of gainers versus losers rose above 120 percent, a level some brokers see as indicating an overbought market.

Wall Street shares performed strongly on Thursday on the back of encouraging U.S. data. [ID: nL2N0TA0YB] But investors sold key Tokyo shares. Fast Retailing Co Ltd , the Uniqlo clothes brand owner, lost 1.3 percent, knocking 21 points off the Nikkei, while Softbank Corp sagged 0.3 percent.

Exporters Nissan Motor Co and Panasonic lost 1.7 percent and 1.3 percent respectively, following recent gains inspired by the weak yen.

Toray Industries shed 1.8 percent as investors took profits from its sharp rise this week inspired by supply deals with Toyota Motor Corp and Boeing.

Nikon bucked the trend, gaining 1.8 percent.

The broader Topix lost 0.7 percent to 1,387.61, staying close to an eight-year peak scaled on Wednesday, while the JPX-Nikkei Index 400 also shed 0.8 percent to 12,669.34.

(Additional reporting by Hideyuki Sano; Editing by Richard Borsuk)