The Japanese yen continued to be higher against its major rivals in pre-European trading on Wednesday.
The yen climbed to 2-day highs of 127.53 versus the euro and 116.47 against franc, while approaching near a 2-year high of 164.70 against the pound, off its early lows of 128.37, 117.27 and 166.82, respectively.
The yen spiked up to a 5-day high of 79.72 against aussie, more than 3-year high of 79.44 against the loonie, near 5-month highs of 74.13 against the kiwi and 116.42 against the greenback, reversing from its prior lows of 81.45, 80.85, 75.50 and 117.69, respectively.
The yen is likely to find resistance around 114.00 against the greenback, 126.00 against the euro, 114.00 against the franc, 164.00 against the pound, 79.00 against the aussie, 78.00 against the loonie and 72.00 against the kiwi.
The material has been provided by InstaForex Company – www.instaforex.com