The Japanese yen strengthened against the other major currencies in the Asian session on Friday, after the Bank of Japan left its monetary policy unchanged at its latest policy decision, as expected by the economists.
The Bank of Japan maintained target for monetary base expansion at an annual pace of about 80 trillion yen.
The yen rose to nearly a 4-week high of 85.51 against the Australian dollar and a 2-day high of 120.29 against the U.S. dollar, from yesterday’s closing quotes of 85.99 and 121.11, respectively.
Against the euro and the Swiss franc, the yen advanced to 132.20 and 121.63 from early 2-day lows of 133.06 and 122.43, respectively.
The yen edged up to 184.31 against the pound and 91.45 against the Canadian dollar, from yesterday’s closing quotes of 185.42 and 91.94, respectively.
If the yen extends its uptrend, it is likely to find resistance around 84.00 against the aussie, 119.00 against the greenback, 131.00 against the euro, 121.00 against the franc, 183.00 against the pound and 89.00 against the loonie.
The material has been provided by InstaForex Company – www.instaforex.com