The common European currency appreciated about 57 base points against the Japanese Yen on Thursday. The currency pair breached both the 50-, 100– and 200-hour SMAs during yesterday’s trading session.

Currently, the exchange rate is testing a resistance cluster formed by the weekly and the monthly PPs at 122.23.

If the resistance cluster holds, bears would drag the currency exchange rate lower within this session.

- advertisement -

However, if the EUR/JPY pair breaks the cluster as mentioned above, the Euro will continue to make gains during the following trading session.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.