The common European currency declined by 60 pips or 0.47% against the Japanese Yen on Thursday. The currency pair breached the 50– hour SMA during yesterday’s trading session.
Most likely, the exchange rate could continue to edge lower during the following trading session. The possible target for bears would be near the support level at 125.00.
However, a support cluster at the 125.50 area could provide a barrier for bearish traders within this session.
