The Japanese yen weakened against most major currencies in the early European session on Wednesday.

The yen fell to a 2-day low of 93.00 against the Australian dollar from an early high of 92.19.

Pulling away from early highs of 128.22 against the euro, 178.45 against the pound and 125.10 against the Swiss franc, the yen dropped to 128.74, 178.81 and 125.52, respectively.

Against the New Zealand and the Canadian dollars, the yen edged down to 96.09 and 97.69 from early highs of 91.63 and 97.39, respectively.

If the yen extends its downtrend, it is likely to find support around 96.00 against the aussie, 131.50 against the euro, 180.50 against the pound, 130.00 against the franc, 94.50 against the kiwi and 100.00 against the loonie.

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