The common European currency declined by 66 pips or 0.57% against the Japanese Yen on Tuesday. The currency pair breached the 115.60 area during yesterday’s trading session.
Technical indicators suggest bearish signals, most likely, the EUR/JPY exchange rate will continue its downward momentum within this session. The pair could target the weekly S2 at 114.64.
However, if the weekly support level at 115.48 holds, the currency exchange rate could slide up towards the 50– and 100– hour SMAs during the following trading session.
