The Japanese yen weakened against the other major currencies in the Asian session on Monday.
The yen fell to a 1-week low of 121.17 against the euro, nearly a 2-week low of 142.62 against the pound and a 10-day low of 113.58 against the Swiss franc, from Friday’s closing quotes of 119.74, 140.32 and 112.52, respectively.
Against the U.S., the Australian and the Canadian dollars, the yen dropped to a 2-week low of 114.17, nearly a 2-month low of 87.49 and nearly a 2-week low of 87.04 from last week’s closing quotes of 111.93, 85.56 and 85.15, respectively.
The yen edged down to 82.09 against the NZ dollar, from Friday’s closing value of 81.30.
If the yen extends its downtrend, it is likely to find support around 124.00 against the euro, 148.00 against the pound, 116.00 against the franc, 119.00 against the greenback, 89.00 against the aussie, 88.00 against the loonie and 84.00 against the kiwi.
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Yen Falls Against Majors