Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the pre-European session on Tuesday.

The yen declined to nearly a 3-month low of 98.28 against the Australian dollar and nearly a 9-year low of 92.39 against the NZ dollar, from early highs of 98.05 and 92.15, respectively.

The yen fell to nearly a 3-month low of 162.05 against the euro and a 4-day low of 150.44 against the U.S. dollar, from early highs of 161.73 and 150.19, respectively.

Against the pound and the Swiss franc, the yen edged down to 189.39 and 170.41 from early highs of 189.08 and 170.12, respectively.

The yen edged down to 111.39 against the Canadian dollar, from an early high of 111.25.

If the yen extends its downtrend, it is likely to find support around 99.00 against the aussie, 93.00 against the kiwi, 163.00 against the euro, 152.00 against the greenback, 191.00 against the pound, 172.00 against the franc and 112.00 against the loonie.