Forex trends: yen gains ground versus key counterparts



image Tuesday, during early Asian session, the Japanese currency revealed firmness against its main rivals. The yen that closed yesterday’s trading at 91.94 against the dollar rose to 91.65 during early Asian deals on Tuesday. The near term resistance for the yen is seen around the 90.2 level. In early Asian trading on Tuesday, the yen climbed to 134.87 against the single currency, with 133.7 expected as the near term resistance level. EUR/JPY rally was quoted as mu7ch as 134.96 late Monday in New York.   Against the Swiss franc yen drifted higher to 89.02, compared to yesterday’s closing value of 89.08. On the upside, CHF/JPY is likely to move up to 88.3 point.    Against the pound, the yen edged up to 148.89 in early Asian deals on Tuesday. On the upside, 148.1 is seen as the next target level for the Japanese currency. At yesterday’s close, GBP/JPY pair was quoted at 149.11. 

ECJ




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