Yen Rises Against Majors

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

The yen rose to nearly a 1-month high of 160.38 against the euro and nearly a 1-1/2-month high of 167.09 against the Swiss franc, from Friday's closing quotes of 160.85 and 167.52, respectively.

Against the pound and the greenback, the yen edged up to 188.46 and 146.54 from last week's closing quotes of 189.09 and 167.52, respectively.

Against Australia, the New Zealand and the Canadian dollars, the yen advanced to nearly a 1-month high of 97.06, more than a 1-month high of 90.56 and nearly a 2-month high of 108.73, respectively.

If the yen extends its uptrend, it is likely to find resistance around 158.00 against the euro, 164.00 against the franc, 185.00 against the pound, 145.00 against the greenback, 95.00 against the aussie, 89.00 against the kiwi and 107.00 against the loonie.