The common European currency depreciated about 0.61% in values against the Japanese Yen on Tuesday. The currency pair breached the lower boundary of an ascending channel pattern during Tuesday’s trading session.
The 200-hour simple moving average provided support for the exchange rate during the first half of today’s session.
If the support level holds, the EUR/JPY pair could aim for the 127.00 region within this session.
Although, if the currency exchange rate breaks the 200-hour SMA at 126.31, a decline towards a support cluster at 125.91 could be expected today.
