The Japanese yen continued to be strong against the other major currencies in the Asian session on Monday amid rising risk aversion, as lower commodity prices weighed on resources stocks. Investors also digested local corporate earnings results as the earnings reporting season winds down.

Investors also preferred to stay on the sidelines as they await more details on U.S. President Donald trump's fiscal stimulus plans. Trump is set to make his first address to a joint session of Congress on Tuesday.

Meanwhile, the crude oil futures eased from 2017 highs on Friday, holding losses after data showed U.S. oil rig count jumped for the 15th week in 16. The U.S. oil-rig count increased by five to a total of 602 this week, according to Baker Hughes. That's nearly double the lowest point after the oil market crash a few years ago.

Last Friday, the yen had risen 0.65 percent against the euro, 1.19 percent against the pound, 0.42 percent against the U.S. dollar and 0.59 percent against the franc.

In the Asian trading, the yen rose to 118.25 against the euro, from Friday's closing value of 118.37. The yen is likely to find resistance around the 116.00 region.

Against the pound and the U.S. dollar, the yen advanced to near 3-week highs of 139.01 and 111.92 from last week's closing quotes of 139.73 and 112.14, respectively. If the yen extends its uptrend, it is likely to find resistance around 136.00 against the pound and 110.00 against the greenback.

The yen climbed to nearly a 3-month high of 111.07 against the Swiss franc, from Friday's closing value of 111.22. The yen may test resistance near the 110.00 region.

Against the New Zealand and the Canadian dollars, the yen rose to a 2-month high of 80.51 and nearly a 3-week high of 85.35 from last week's closing quotes of 80.64 and 85.58, respectively. The yen is likely to find resistance around 79.00 against the kiwi and 84.00 against the loonie.

Looking ahead, Eurozone M3 money supply data for January and business climate index for February are due to be released later in the day.

At 7:30 am ET, Swiss National Bank Governing Board Member Fritz Zurbrugg will deliver a speech titled "Cash - tried and tested, and with a future" at the World Banknote Summit, in Basel.

In the New York session, U.S. durable goods orders and pending home sales data, both for January, are slated for release.

In the New York session, Federal Reserve Bank of Dallas President Robert Kaplan is expected to speak at the University of Oklahoma's Distinguished Speaker Series.

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