The yen was poised to end the week higher on Friday, having jumped to a five-month peak against the euro overnight as banking woes in Portugal drove global equities lower and lifted demand for the safe-haven currency.
Fears over financial troubles at the family-owned holding companies behind Portugal's largest listed bank had unsettled European markets on Thursday. That in turn weighed on Wall Street and there was a knock-on effect in some Asian bourses on Friday.
The euro last traded near 138 yen, not far from 137.50, its lowest since early February. The dollar was near 101 yen after touching a seven-week low of 101.06. The Aussie fetched 95 yen, following a dip to a five-week low of 94.66.
Against the dollar, the common European currency was under $1.36 from a session high of $1.3651.