TOKYO (AFX-ASIA) - Finance Ministry senior deputy director-general Zenbei Mizoguchi said it is undesirable to see the yen rise against the dollar, which has fallen to around low 123 yen levels. "Considering Japan's economic fundamentals, there is no grounds to justify an advance in the yen against the dollar, though they will respond to a range of economic factors," Mizoguchi told AFX Asia in the ministry. "I think the yen's strength will be corrected sometime in the future, but it is undesirable in the future against the dollar," he said. "We will closely watch the market moves (and) we maintain our stance that we will take appropriate action if the forex market shows signs of wild fluctuation," Mizoguchi said.