Yen Rises Against Majors

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

The yen rose to nearly a 5-month high of 160.89 against the euro and nearly a 3-1/2-month high of 190.97 against the pound, from yesterday's closing quotes of 162.12 and 192.51, respectively.

Against the U.S. dollar and the Swiss franc, the yen advanced to nearly a 5-month high of 148.51 and nearly a 3-month high of 169.50 from Wednesday's closing quotes of 149.78 and 170.55, respectively.

Against Australia, the New Zealand and the Canadian dollars, the yen climbed to nearly a 5-month high of 97.20, a 7-1/2-month high of 88.55 and nearly a 7-month high of 107.56 from yesterday's closing quotes of 98.07, 89.15 and 108.47, respectively.

If the yen extends its uptrend, it is likely to find resistance around 158.00 against the euro, 188.00 against the pound, 145.00 against the greenback, 166.00 against the franc, 94.00 against the aussie, 87.00 against the kiwi and 106.00 against the loonie.