GBPJPY Pound Sterling vs Japanese Yen

The Japanese yen pulled back from its early highs against its major opponents in early New York deals on Wednesday.

The yen slipped to 108.54 against the greenback and 109.70 against the franc, from its early 8-day high of 108.25 and a 6-day high of 109.38, respectively.

Reversing from its early 2-day highs of 82.61 against the loonie and 69.16 against the kiwi, the yen weakened to 82.93 and 69.62, respectively.

The yen eased off to 120.77 against the euro, 139.91 against the pound and 74.36 against the aussie, from its previous 6-day highs of 120.39, 139.08 and 74.02, respectively.

Further weakness may take the yen to a support around 123.00 against the euro, 142.5 against the pound, 85.00 against the loonie, 73.00 against the kiwi, 76.5 against the aussie and 111.00 against both the greenback and the franc.

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