During the previous trading session, the European single currency appreciated by 52 basis points against the Japanese Yen.
Most likely, the currency pair might edge higher in the nearest future. Bulls could pressure the rate towards a psychological resistance level at 119.00 during the following trading session.
Although, the currency exchange rate needs to surpass the 100– and 200– hour simple moving averages at 118.21 and 118.38.
Meanwhile, technical indicators demonstrate that the EUR/JPY pair could continue to trade south today.
