Yen Rises Against Majors

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

The yen rose to nearly a 9-month high of 140.72 against the U.S. dollar and nearly a 5-week high of 184.48 against the pound, from yesterday's closing quotes of 142.23 and 186.28, respectively.

Against the euro and the Swiss franc, the yen advanced to more than 5-week highs of 155.50 and 167.04 from Tuesday's closing quotes of 156.94 and 168.16, respectively.

The yen climbed to a 5-week high of 86.47 against the NZ dollar, from Tuesday's closing value of 87.57.

Against the Australia and the Canadian dollars, the yen jumped to more than 5-week highs of 93.65 and 103.50 from Tuesday's closing quotes of 94.77 and 104.64, respectively.

If the yen extends its uptrend, it is likely to find resistance around 138.00 against the greenback, 179.00 against the pound, 153.00 against the euro, 165.00 against the franc, 83.00 against the kiwi, 90.00 against the aussie and 101.00 against the loonie.