The Eurozone single currency fell by 52 pips or 0.41% against the Japanese Yen on Monday. The currency pair breached the 50– hour simple moving average at 126.85 during Monday’s trading session.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the exchange rate could edge higher within the following trading session.
However, the 50– hour SMA at 126.85 could provide resistance for the EUR/JPY currency exchange rate in the short term.
