The Eurozone single currency appreciated about 1.55% in value against the Japanese Yen on Tuesday. The currency pair reached a one-week high at 119.50 during yesterday’s trading session.
Given that the 50-, 100– and 200– hour SMAs are below the price level, it is likely that the exchange rate will continue its upside momentum during the following trading session.
However, it is expected that the EUR/JPY currency exchange rate makes a brief retracement towards the 50– hour simple moving average at 11.36 within this session.
