The Japanese yen declined across the board on Monday morning in Asia. The yen slumped to 115.07 against the euro by 9:25 pm ET, the lowest level since May 18. On the downside, the yen may find target around the 125.30 level. The euro-yen pair that closed last week’s deals at 114.83 is presently quoted at 114.96.
The yen reached an 11-day low of 62.29 against the NZ dollar around 9:50 pm ET, compared to 61.96 hit late New York Friday. The kiwi-yen pair is presently worth 62.26 with 62.80 seen as the next likely target level.
Against the Canadian dollar, the yen plunged to a 1-week low of 82.24 by 9:45 pm ET and this may be compared to Friday’s close of 81.61. On the downside, the yen may find support around the 83.60 level.
The yen fell to a 5-day low of 83.88 against the US dollar at this time, compared to 83.28 hit late New York Friday. On the downside, the domestic unit may find target around the 84.40 level.
The yen also slipped to a 4-day low of 132.41 against the pound, 85.75 against the Swiss franc and 81.31 versus the Australian dollar by 9:50 pm ET and this may be compared to last week’s closing quotes of 131.96, 85.56 and 81.01, respectively.
If the yen weakens further, likely support levels are seen at 133.80 against the pound, 86.10 versus the franc and 81.50 versus the Australian dollar.