The Japanese yen continued to be weak against the other major currencies in the Asian session on Monday after U.S. Federal Reserve Chair Janet Yellen said in her speech last Friday that the case for another interest rate hike has strengthened.

The Federal Open Market Committee "continues to anticipate that gradual increases in the federal funds rate will be appropriate over time to achieve and sustain employment and inflation near our statutory objectives," Yellen said in a symposium at Jackson Hole, Wyoming.

Last Friday, the yen fell 0.48 percent against the euro, 0.44 percent against the pound, 1.32 percent against the U.S. dollar and 0.13 percent against the franc.

In the Asian trading, the yen fell to near 4-week lows of 114.48 against the euro and 134.16 against the pound, from Friday's closing quotes of 113.89 and 133.55, respectively. If the yen extends its downtrend, it is likely to find support around 119.00 against the euro and 140.00 against the pound.

Against the U.S. and the Canadian dollar, the yen dropped to more than 2-week lows of 102.21 and 78.61 from last week's closing quotes of 101.76 and 78.22, respectively. The yen may test support near 107.00 against the greenback and 82.00 against the loonie.

The yen slid to a 1-week low of 104.58 against the Swiss franc, from Friday's closing value of 104.02. On the downside, 107.00 is seen as the next support level for the yen.

Against the Australian and the New Zealand dollars, the yen edged down to 77.15 and 73.93, from last week's closing quotes of 76.93 and 73.58, respectively. The yen is likely to find support around 79.00 against the aussie and 76.00 against the kiwi.

Looking ahead, U.S. personal income and spending data for July is due to be released in the New York session.

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