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Forex News: Yen Rises Against Majors

Yen Rises Against Majors

05/16/2024 - 02:26:00 (RTTNews)

(RTTNews) - The Japanese yen strengthened against other major currencies in the Asian session on Thursday.

The yen rose to 1-week highs of 167.33 against the euro and 170.82 against the Swiss franc, from yesterday's closing quotes of 168.01 and 171.28, respectively.

Against the U.S. dollar and the pound, the yen advanced to nearly a 2-week high of 153.60 and a 3-day high of 195.05 from Wednesday's closing quotes of 154.30 and 196.45, respectively.

Against Australia, the New Zealand and the Canadian dollars, yen advanced to a 3-day high of 102.81, a 2-day high of 94.16 and an 8-day high of 112.95 from Wednesday's closing quotes of 103.38, 94.58 and 113.46, respectively.

If the yen extends its uptrend, it is likely to find resistance around 163.00 against the euro, 167.00 against the franc, 151.00 against the greenback, 191.00 against the pound, 100.00 against the aussie, 91.00 against the kiwi and 111.00 against the loonie.

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