The common European currency rose by 42 pips or 0.32% against the Japanese Yen on Wednesday. The surge was stopped by the 50– hour simple moving average during yesterday’s trading session.
Technical indicators flash sell signals on the 4H time-frame chart. Most likely, sellers could pressure the EUR/JPY exchange rate lower during the following trading session.
However, a support level at 129.66 could provide support for the currency exchange rate within this session.
