The Eurozone single currency appreciated about 0.60% in values against the Japanese Yen on Tuesday. The currency pair tested the upper boundary the newly formed ascending channel pattern at 125.73 during Tuesday’s trading session.
The exchange rate breached a support level formed by the weekly pivot point at 125.52 during the European session on Wednesday.
As for the near future, it is likely that the currency exchange rate aims for the 200-hour simple moving average at 125.97 within this session.
