Yen Rises Against Majors

01:48, 21st October 2016

(RTTNews) - The Japanese yen strengthened against the other major currencies in the European session on Friday.

The yen rose to a 3-week high of 112.82 against the euro and nearly a 3-week high of 104.17 against the Swiss franc, from early highs of 113.85 and 104.93, respectively.

Moving away from an early 3-day low of 104.20 against the U.S. dollar and a 2-day low of 127.68 against the pound, the yen advanced to 103.67 and 126.78, respectively.

Against the Australian, the New Zealand and the Canadian dollars, the yen climbed to a 4-day high of 79.13, a 3-day high of 74.28 and an 8-day high of 78.21 from early lows of 79.51, 74.88 and 78.75, respectively.

If the yen extends its uptrend, it is likely to find resistance around 111.00 against the euro, 103.00 against the franc, 102.00 against the greenback, 124.00 against the pound, 77.00 against the aussie, 73.00 against the kiwi and 77.00 against the loonie.