The price movement of the common European currency against the Japanese Yen was guided by bullish sentiment. The currency pair appreciated about 74 basis points during yesterday’s trading session.
A breakout occurred through the upper boundary of a descending channel pattern on Monday.
Given that a breakout had occurred, and the exchange rate breached the 200-hour simple moving average, bullish traders might continue their dominance in the market today.
However, technical indicators suggest that the price might edge lower during the following trading session
