Forex trends: yen hits 6-day highs versus euro and franc



image Early in Asia deals today, the Japanese yen firmed versus its main rivals, reaching a 6-day high against the European currency and the Swiss franc as Japan posted a merchandise trade surplus in August.

Against the US dollar, the Japanese yen traded higher during early Asian deals on Thursday. At 11:30 pm ET, the yen reached a high of 91.00 against the dollar, compared to 91.30 hit late New York Wednesday. The next upside target level for the yen is seen around 90.2.

Against the British pound, the Japanese currency edged higher during Thursday’s early Asian trading. At 11:50 pm ET, the yen hit a high of 148.64 versus the pound, compared to Wednesday’s closing value of 149.21. On the upside, 145.8 is seen as the next target level for the Japanese yen.

The Japanese unit that closed Wednesday’s North American session at 134.52 against the European currency climbed to 133.89 during today’s early Asian deals. This set a 6-day high for the yen. If the Japanese yen gains further, 132.9 is seen as the next target level.

The Japanese yen rose to a 6-day high of 88.55 against the franc during early Asian deals on Thursday at 11:50 pm ET, with 87.8 seen as the next resistance level. CHF/JPY pair closed Wednesday’s New York deals at

ECJ




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