Japanese yen is heading higher today as concerns about Greece once again take center stage. While Greek Prime Minister Lucas Papademos insisted that some progress was made over the weekend, he also pointed out that there are still some conditions left. The unresolved situation is adding to the uncertainty that is prompting risk aversion today.

The Japanese yen rose today, reversing yesterday’s losses against the euro, as positive mood slowly leaves the Forex market and traders once again seek safety in safe-haven currencies.

Risk appetite is coming to the Forex market, sending high beta currencies higher. And, normally, this would mean that the US dollar would also be higher against the Japanese yen. Today, though, the yen is higher against the greenback. Weaker than expected US data is sending the dollar lower, and the yen is near three-month highs against the greenback.

The Japanese yen jumped today amid growing concerns about a potential outcome of the European Union leaders’ meeting, especially about the uncertain future of Greece.

The Japanese yen declined today after positive data about European manufacturing and service industries reduced demand for safety of Japan’s currency.

Japanese yen is mixed today, heading higher against the euro, but lower against the US dollar and the UK pound. Uncertainty about Greece is creeping into the picture, weighing on the euro, but there is enough good news — so far — that other high beta currencies are maintaining their gains.

The Japanese yen rose against the dollar, but fell versus the euro today as sentiment about the situation in Europe improved after Spain and Greece successfully auctioned their debt, reducing demand for safer currencies.

The Japanese yen fluctuated, demonstrating a downside bias, as today’s reports from the United States are expected to be mixed. The yen slid versus the euro today on signs of stabilizing economic situation in Europe.

Japanese yen is gaining against the euro and the pound today, thanks to renewed fears about what’s next for Europe. Yen is lower against the US dollar, though, thanks in part to the re-emergence of the trade deficit in Japan. As long as concerns about Europe, and the banking industry, remain, yen is likely to find some strength against European currencies.

The Japanese yen dropped today against the euro as Germany’s leader meets the head of the International Monetary Fund to discuss the ongoing issues of the European Union and possible ways to resolve the credit problems.