Japanese yen fell to a 4-day low against the euro, franc, pound, Australian dollar, Canadian dollar and the New Zealand dollar Monday as rebound in equities boosted investors' risk appetite.
Additionally, bleak economic reports from Japan aggravated the weakness of the yen.
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Yen weakened against its Swiss counterpart during trading on Monday. It touched a 4-day low of 86.81 versus the franc, compared to 85.98 hit late Friday in New York. The next downside target for the yen is seen around the 87.98 level.
The yen dipped to a 4-day low of 130.84 against the euro compared to 129.42 hit late Friday in New York. If the yen slides further, 132.3 is seen as the next likely target level.
Against UK's sterling, the yen declined to a 4-day low of 143.97 during today's early Asian session. The pound-yen pair closed last week's deals at 142.42. The next downside target for the Japanese currency is seen around the 148.4 level.
The yen showed mild strength against the US dollar during Monday's early Asian session. The Japanese currency lost ground and is now worth 86.65. The dollar-yen pair closed Friday New York session at 86.50.
The yen also weakened against commodity related currencies during early trading. The yen slumped to a 4-day low against the Australian dollar and the New Zealand dollar and touched 79.72 and 62.63, respectively.
The yen was worth 78.45 against the Aussie and 61.49 against the kiwi at Friday's close.
Against the Canadian currency, the yen touched a 4-day low during today's early trading. The yen hit a low of 82.33 and if it falls further; it may find immediate resistance around the 83.65 level. The loonie-yen pair closed last week's deals at 81.38.
