The single European currency appreciated by about 94 base points against the Japanese Yen on Wednesday. The currency pair dashed through the three SMAs during yesterday’s session.
As for the near future, it is likely that the EUR/JPY currency exchange rate continues its upward movement and potential breach the upper boundary of a triangle-like formation pattern at 129.19 during the following trading session.
However, a resistance level formed by the monthly PP at 128.95 could hinder the exchange rate from the possible breakout today.
