Japanese Yen Spikes Up Against Majors

The Japanese yen was higher against its major counterparts in the early European session on Wednesday.

The yen advanced to more than a 4-month high of 122.44 against the euro and a 3-month high of 141.06 against the pound, from its early lows of 122.99 and 141.65, respectively.

The yen reversed from its early lows of 109.70 against the greenback and 108.87 against the franc, rising to 109.31 and 108.56, respectively.

Extending its early rally, the yen appreciated to more than a 4-month high of 75.61 against the aussie and a 2-day high of 71.67 against the kiwi, reversing from its early lows of 76.15 and 72.12, respectively.

The yen edged higher to 81.10 against the loonie, up from a low of 81.50 hit at 9:45 pm ET.

The next possible resistance for the yen is seen around 108.00 against the greenback, 107.00 against the franc, 121.00 against the euro, 139.00 against the pound, 74.5 against the aussie, 69.00 against the kiwi and 78.5 against the loonie.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Japanese Yen Spikes Up Against Majors

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