Forex news: yen firms versus European majors, hitting a 2-day high against pound

image Early morning on Friday in Asia, the Japanese unit firmed, hitting a 2-day high against the British pound as a fall in most Asian stocks impacted investors to seek the safety of the Japanese yen. The yen also revealed strength versus its European and Swiss counterparts; however yen eased against the US dollar.

With investors choosing to take some profits ahead of a five-day holiday, the Japanese stock market inched down today. The benchmark Nikkei 225 index, which plunged to 10,297 after opening with a negative gap of around 65 points at 10,379, is currently down 128.4 points, or 1.23%, at 10,315.

Against the British pound, the Japanese currency edged higher during Friday’s early Asian trading. At 10:25 pm ET, the yen climbed to a 2-day high of 149.28 versus the pound, compared to Thursday’s closing value of 149.9. On the upside, 148.1 is seen as the next target level for the Japanese yen.

The Japanese unit that closed Thursday’s North American session at 134.30 against the European currency reached a high of 134.09 at 10:25 pm ET. The yen is currently trading at 134.26 against the euro with 132.9 seen as the next resistance level.

The yen that closed Thursday’s New York deals at 88.63 against the Swiss franc hit a high of 88.45 during today’s early Asian deals. If the Japanese currency gains further, 87.6 is seen as the next target level. CHF/JPY pair is presently trading at 88.57.
On the other hand, the Japanese yen traded down against the US dollar during early Asian deals on Friday. At 10:45 pm ET, the yen touched a low of 91.44 against the dollar, compared to 91.1 hit late New York Thursday. The next downside target level for the pair is seen around 91.8.


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