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The Japanese yen fell against major currencies in European trading on Tuesday

2018-03-13 11:56 am | Resource: NEWS | No Views : 143

The Japanese yen fell against major currencies in European trading on Tuesday.

The yen fell to a weekly low of 113.17 against the franc, near a 3-week low of 132.37 against the euro and near a two-week low of 149.01 per pound from a previous high of 112.18, 131.11 and 147.77 respectively.

The yen fell nearly 3-week lows at 78.59 against the kiwi and 84.46 against the Australian dollar, from an intraday high of 77.56 and a 4-day high of 83.63, respectively.

The yen fell to a two-week low of 107.27 against the US dollar, reversing from a 4-day high of 106.25, and the yen weakened to 83.44 against the Canadian dollar, from a 4-day high of 82.74.

If the yen drops further, support may find around 110.0 against the US dollar, 116.00 against the franc, 135.00 against the euro, 151.00 against the pound, 85.00 against the Canadian dollar, 80.00 against the kiwi and 86.00 against the Australian dollar.

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USD/JPY Technical analysis 10 December 2018

Time frame Used - four hours The USDJPY is moving in a bearish direction in the near term. The USDJPY reached to the support level of112.29 to bounce back to the 112.92 level  as the USDJPY faced resistance and selling pressure around this level, forming a lower high to retreat to the 112.64 level, trying to stability above this level , As the USDJPY moves into a bearish channel and…

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