The Eurozone single currency declined by 34 pips or 0.27% against the Japanese Yen on Tuesday. The decline was stopped by a support line at 126.45 during yesterday’s trading session.
All things being equal, the EUR/JPY exchange rate could continue to edge lower during the following trading session. Bearish traders might target the 126.30 level today.
However, a support cluster formed by the 100– and 200– hour SMAs at 126.63 could provide support for the currency exchange rate within this session.
