Yen Rises Against Majors

The Japanese yen strengthened against the other major currencies in the Asian session on Wednesday. The yen rose to a 1-week high of 159.51 against the pound and a 6-day high of 123.44 against the euro, from yesterday's closing quotes of 160.05 and 124.02, respectively. Against the Swiss franc and the U.S. dollar, the yen advanced to 8-day highs of 112.68 and 112.41 from yesterday's closing quotes of 113.03 and 112.62, respectively. Against the Australian, the New Zealand and the Canadian dollars, the yen climbed to a 5-day high of 83.35, a 6-day high of 75.74 and an 8-day high of 83.65 from yesterday's closing quotes of 83.77, 75.92 and 83.98, respectively. If the yen extends its uptrend, it is likely to find resistance around 155.00 against the pound, 122.00 against the euro, 112.00 against the franc, 110.00 against the greenback, 79.00 against the aussie, 73.00 against the kiwi and 81.00 against the loonie.

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