Yen Extends Slide Against Majors

The Japanese currency extended its early Asian session's slide across the board in late trading Wednesday as upbeat manufacturing data from both the U.S. and China prompted traders to reduce positions in low-yielding yen.

The yen is presently trading at a 5-day low of 80.55 against the dollar and 106.47 against the euro with 81.15 and 107.0, respectively seen as its next likely support levels.

The yen also reached 2-day lows of 130.68 against the pound, 88.63 versus the Swiss franc, 81.70 against the Canadian dollar and 65.62 against the New Zealand dollar around 2:50 am ET.

On the downside, the Japanese unit may find support levels at 131.10 against the pound, 89.0 against the Swiss franc, 82.0 against the loonie and 66.20 against the kiwi.

The yen also slipped to a session's low of 83.29 against the Australian dollar around 2:30 am ET. If the yen weakens further, 84.0 is seen as the next likely downside target level.