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The Japanese yen erased its early gains against its major rivals and declined in European deals on Wednesday.

The yen eased to 76.31 against the kiwi, 84.41 against the aussie, 160.29 against the pound and 112.67 against the franc, from its early 6-day high of 75.65, 5-day high of 83.35, weekly high of 159.48 and a 1-1/2-year high of 111.91, respectively.

The yen reversed from its early 8-day highs of 83.65 against the loonie, 112.23 against the greenback and 123.06 against the euro, falling to 84.10, 112.70 and 123.68, respectively.

The yen may possibly find support around 162.00 against the pound, 124.5 against the euro, 78.00 against the kiwi, 86.00 against both the aussie and the loonie and 114.00 against both the greenback and the franc.