The single European currency declined by 41 pips or 0.31% against the Japanese Yen on Monday. The EUR/JPY currency pair breached the 50– hour simple moving average during yesterday’s trading session.
Technical indicators flash 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, a resistance level at 130.45 could provide a barrier for buyers during Tuesday’s trading session
