Yen Falls Against Majors
The Japanese yen weakened against the other major currencies in the Asian session on Friday.
The yen fell to more than a 1-month low of 116.03 against the Swiss franc, a 9-day low of 113.32 against the U.S. dollar, an 8-day low of 126.47 against the euro and a 3-day low of 160.16 against the pound, from yesterday's closing quotes of 115.68, 112.89, 126.14 and 159.73, respectively.
Against the Australian, the New Zealand and the Canadian dollars, the yen dropped to 2-day lows of 85.21, 75.88 and 85.57 from yesterday's closing quotes of 84.95, 75.64 and 85.22, respectively.
If the yen extends its downtrend, it is likely to find support around 118.00 against the franc, 115.00 against the greenback, 128.00 against the euro, 164.00 against the pound, 87.00 against the aussie, 78.00 against the kiwi and 87.00 against the loonie.
The material has been provided by InstaForex Company - www.instaforex.com