The Eurozone single currency declined by 52 pips or 0.41% against the Japanese Yen on Wednesday. The decline was stopped by the weekly support level at 128.51 during Wednesday’s trading session.
The exchange rate is likely to edge higher during Thursday’s trading session. The potential target for bullish traders would be near the 200– hour SMA the 129.50 level.
However, the 50– hour simple moving average at 128.81 could provide resistance for the EUR/JPY currency exchange rate during the following trading session.
