The single European currency has continued to trade sideways against the Japanese Yen. The currency pair trading range during yesterday’s session was about 45 base points.
The exchange rate breached the 50-hour simple moving average at 125.73 during the first half of today’s session. Most likely, the currency exchange rate will edge higher towards a swing high of 125.95 within this session.
Although, given that the EUR/JPY pair is located near the bottom border of an ascending channel pattern, a breakout could be expected during the following trading session.
