YEN FALLS AGAINST MAJORS

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

The yen fell to a 2-month low of 185.21 against the pound, from Friday's closing value of 184.86.

Against the euro and the Swiss fran, the yen slipped to 6-day lows of 160.68 and 166.76 from last week's closing quotes of 160.26 and 166.11, respectively.

The yen edged down to 149.68 against the U.S. dollar, from Friday's closing value of 149.37.

Against the Australia, the New Zealand and the Canadian dollars, the yen slipped to nearly a 5-month low of 97.51, nearly a 4-week low of 89.70 and nearly a 3-week low of 109.66 from last week's closing quotes of 97.27, 89.58 and 109.35, respectively.

If the yen extends its downtrend, it is likely to find support around 186.00 against the pound, 162.00 against the euro, 169.00 against the franc, 152.00 against the greenback, 98.00 against the aussie, 91.00 against the kiwi and 111.00 against the loonie.

News are provided by InstaForex

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