The Japanese yen declined against the other major currencies in early European deals on Monday.

The yen hit 5-day lows of 119.80 against the greenback and 177.95 against the pound, off early high of 119.10 and a 4-day high of 176.67, respectively.

The yen slipped to 94.93 against the loonie, 130.15 against the euro and 124.30 against the franc, reversing from early highs of 94.40, 129.29 and 123.46, respectively. The yen that climbed to a 10-day high of 89.70 against the kiwi in early deals edged down to 90.22.

The next possible support for the yen is seen around 120.00 against the greenback, 178.00 against the pound, 131.00 against the euro, 125.00 against the franc, 96.00 against the loonie and 92.5 against the kiwi.

The material has been provided by InstaForex Company –