The common European currency declined by 82 points or 0.65% against the Japanese Yen on Tuesday. The currency pair breached the 50– hour simple moving average during yesterday’s trading session.
The EUR/JPY exchange rate could continue to slide lower during the following trading session. Bearish traders are likely to target the weekly pivot point at the 125.74 level.
However, the 100– hour SMA are 126.04 could provide support for the currency exchange rate in the shorter term.
