Yen Rises Against Majors

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

The yen rose to a 5-day high of 162.21 against the euro and a 2-day high of 189.86 against the pound, from early lows of 162.89 and 190.63, respectively.

Against the U.S. dollar and the Swiss franc, the yen advanced to a 6-day high of 149.33 and nearly a 2-month high of 168.93 from early lows of 150.09 and 169.81, respectively.

Against the Australia and the Canadian dollars, the yen advanced to a 5-day high of 97.39 and nearly a 1-month high of 109.94 from early lows of 97.72 and 110.44, respectively.

The yen edged up to 91.08 against the NZ dollar, from an early low of 91.40. The yen had rose earlier to a 6-day high of 91.04 against the kiwi.

If the yen extends its uptrend, it is likely to find resistance around 161.00 against the euro, 188.00 against the pound, 167.00 against the franc, 148.0 against the greenback, 96.00 against the aussie, 108.00 against the loonie and 90.00 against the kiwi.