The common European currency traded sideways movement against the Japanese Yen on Monday. The 100-hour simple moving average provided resistance at 121.08 during yesterday’s trading session.

Most likely, the EUR/JPY exchange rate might continue its downward swing within this session. Bearish traders are likely to aim at the lower boundary of a descending channel pattern at 120.52.

Furthermore, technical indicators suggest that the currency exchange rate could edge lower during the following trading session.

- advertisement -

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.