YEN DROPS AGAINST MAJORS

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

The yen fell to nearly a 2-week low of 136.12 against the U.S. dollar and a 4-day low of 169.65 against the pound, from Friday's closing quotes of 135.74 and 168.93, respectively. Against the euro and the Swiss franc, the yen dropped to 5-day lows of 147.85 and 151.62 from last week's closing quotes of 147.27 and 151.04, respectively.

Against the Australia and the Canadian dollars, the yen slipped to 4-day lows of 90.63 and 100.38 from Friday's closing quotes of 90.08 and 100.09, respectively.

The yen edged down to 84.52 against the NZ dollar, from last week's closing value of 83.97.

If the yen extends its downtrend, it is likely to find support around 137.00 against the greenback, 173.00 against the pound, 152.00 against the euro, 154.00 against the franc, 93.00 against the aussie, 102.00 against the loonie and 86.00 against the kiwi.

News are provided by InstaForex

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