The 200– hour simple moving average provided resistance for the Eurozone single currency against the Japanese Yen on Thursday.
If the 200– hour SMA resistance level holds, bearish traders are likely to pressure the exchange rate lower during the following trading session.
However, if the currency pair breaks the resistance level, a surge towards the 126.40 could be expected within this session.
Meanwhile, technical indicators suggest that bears might continue to pressure the currency exchange rate lower today.
