why fe has valency 2 however its electronic configuration has 4 unfilled orbitals
Iron has atomic number 26. So its configuration is [Ar] 3d 4s . As the d sub-shell has 6 electrons, they repel the electrons of 4s to a higher energy level. Thus, iron atom loses two electrons from the s sub-shell to achieve its +2 oxidation state and to remove these two electrons from the s sub-shell does not take much energy.