The Decline of the common European currency against the Japanese Yen continued during Monday’s trading session. The currency pair fell about 76 base points during the end of yesterday’s session.
The depreciation continues during Tuesday’s trading session. By the middle of the day, the exchange rate has declined further 45 base points.
As for the near future, it is likely that the Euro will make a brief retracement north towards a resistance cluster formed by the combination of the 200-hour simple moving average and the weekly PP at 12849.
However, the 50-hour SMA at 128.16 could hinder such movement today.
