During the past 24 hours, the single European currency has appreciated about 90 base points against the Japanese Yen. The currency pair reached a swing high of 125.04 during yesterday’s trading session.
Given that the exchange rate has breached a resistance cluster at 125.17, it is likely that the pair will aim for the projected target at 125.70 during the following trading session.
However, technical indicators demonstrate that the currency exchange rate will edge lower today.
