The Japanese yen retreated from its early highs against the other major currencies in the Asian session on Wednesday.
The yen fell to 145.49 against the euro and 186.23 against the pound, from early highs of 148.09 and 185.68, respectively.
Pulling away from early highs of 120.65 against the Swiss franc and 119.24 against the U.S. dollar, the yen edged down to 120.96 and 119.69, respectively.
If the yen extends its downtrend, it is likely to find support around 148.42 against the euro, 189.25 against the pound, 123.46 against the Swiss franc and 122.00 against the U.S. dollar.
The material has been provided by InstaForex Company – www.instaforex.com