Yen Rises Against Majors

The Japanese yen strengthened against the other major currencies in the Asian session on Monday.

The yen rose to nearly a 2-month high of 137.01 against the pound, from Friday's closing value of 139.48.

Against the euro and the Swiss franc, the yen advanced to more than 1-month highs of 121.09 and 112.85 from last week's closing quotes of 121.71 and 113.35, respectively.

Against the U.S. and the Canadian dollars, the yen climbed to 4-day highs of 113.97 and 86.78 from last week's closing quotes of 114.43 and 87.21, respectively.

Against the Australian and the New Zealand dollars, the yen advanced to 5-day highs of 85.28 and 80.93 from Friday's closing quotes of 85.78 and 81.54, respectively.

If the yen extends its uptrend, it is likely to find resistance around 134.00 against the pound, 118.00 against the euro, 110.00 against the franc, 111.00 against the greenback, 84.00 against the loonie, 83.00 against the aussie and 78.00 against the kiwi.