The Japanese yen strengthened against the other major currencies in the Asian session on Friday.

The yen rose to a 3-day high of 123.46 against the Swiss franc, from yesterday’s closing value of 123.67.

Moving away from an early low of 129.85 against the euro, the yen appreciated to 129.66. This may be compared to an early 4-day low of 129.49.

Against the U.S., the Australia, the New Zealand and the Canadian dollars, the yen edged up to 119.07, 92.89, 90.24 and 95.23 from yesterday’s closing quotes of 119.16, 93.28, 90.50 and 95.46, respectively.

Having fallen to 177.31 against the pound earlier, the yen edged up to 176.88.

If the yen extends its uptrend, it is likely to find resistance around 119.70 against the Swiss franc, 126.50 against the euro, 116.90 against the greenback, 90.50 against the aussie, 86.87 against the kiwi, 92.16 against the loonie and 175.00 against the pound.

The material has been provided by InstaForex Company –