Yen Rises Against Majors

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

The yen rose to more than a 1-month high of 159.75 against the euro, nearly a 1-1/2-month high of 189.83 against the pound and more than a 5-week high of 170.27 against the Swiss franc, from yesterday's closing quotes of 160.99, 191.52 and 171.44, respectively.

Against the U.S. and the Canadian dollars, the yen advanced to a 4-week high of 155.21 and nearly a 1-month high of 108.24 from Wednesday's closing quotes of 156.47 and 109.09, respectively.

Against the Australia and the New Zealand dollars, the yen climbed to 3-day highs of 96.59 and 87.25 from yesterday's closing quotes of 97.42 and 87.86, respectively.

If the yen extends its uptrend, it is likely to find resistance around 156.00 against the euro, 187.00 against the pound, 168.00 against the franc, 152.00 against the greenback, 105.00 against the loonie, 98.00 against the aussie and 85.00 against the kiwi.