Yen Rises Against Majors

The Japanese yen strengthened against the other major currencies in the European session on Wednesday.

The yen rose to more than a 4-month high of 124.16 against the Swiss franc, from an early low of 125.26.

Against the euro, the yen advanced to 134.99 from an early low of 135.79.

Moving away from an early low of 184.27 against the pound, the yen climbed to 182.79.

Against the U.S., the Australia, the New Zealand and the Canadian dollars, the yen edged up to 119.69, 83.73, 75.78 and 90.31 from early lows of 120.46, 84.72, 76.59 and 91.01, respectively. Earlier, the yen rose to a 1-week high of 119.21 against the greenback, an 8-day high of 83.63 against the aussie, a 9-day high of 75.39 against the kiwi and a 1-week high of 89.94 against the loonie.

If the yen extends its uptrend, it is likely to find resistance around 120.00 against the franc, 133.00 against the euro, 178.00 against the pound, 115.00 against the greenback, 81.00 against the aussie, 71.00 against the kiwi and 87.00 against the loonie.