Yen Falls Against Majors
The Japanese yen weakened against the other major currencies in the Asian session on Tuesday.
The yen fell to nearly a 2-month low of 116.69 against the Swiss franc and more than a 2-week low of 127.23 against the euro, from yesterday's closing quotes of 116.44 and 126.99, respectively.
Against the pound and the U.S. dollar, the yen dropped to near 2-week lows of 161.87 and 113.74 from yesterday's closing quotes of 161.68 and 113.43, respectively.
The yen slipped to a 6-day low of 86.19 against the Canadian dollar, from yesterday's closing value of 86.01.
If the yen extends its downtrend, it is likely to find support around 119.00 against the franc, 129.00 against the euro, 166.00 against the pound, 115.00 against the greenback and 87.00 against the loonie.
The material has been provided by InstaForex Company - www.instaforex.com