The Eurozone single currency declined by 64 pips or 0.49% against the Japanese Yen on Monday. The exchange rate breached the 50– and 200– hour SMAs during yesterday’s trading session.
The exchange rate bounced off the lower line of an ascending channel pattern by the end of Monday’s trading session. Most likely, the EUR/JPY pair could continue to edge higher today.
However, a resistance level at 130.66 could provide resistance for the currency exchange rate within this session.
