The single European currency declined by 34 pips or 0.26% against the Japanese Yen on Tuesday. The decline was stopped by the 200– hour simple moving average during Tuesday’s trading session.
The exchange rate bounced off the 200– hour SMA at 133.34 during the US session on Tuesday. Most likely, the EUR/JPY currency pair could edge higher within today’s trading session.
However, the weekly resistance level at 133.65 could provide resistance for the currency exchange rate in the shorter term.
