The price movement of the single European currency versus the Japanese Yen was guided by a downside sentiment during Wednesday’s trading session. The currency pair declined by about 68 base points on Wednesday.
The exchange rate breached the 50– and 100-hour SMAs during the first half of today’s trading session.
Everything being equal, it is likely that the EUR/JPY currency pair will aim for a swing high of 125.73 during the following trading session.
However, technical indicators demonstrate that the currency exchange rate could edge lower today.
