The single European currency depreciated by 0.50% in value against the Japanese Yen on Tuesday. The currency pair paused the decline at the end of the previous trading session.
During the first part of Wednesday’s trading session, the exchange rate was trading above all three SMAs. From a theoretical point of view, bullish traders might prevail in the market today.
However, technical indicators demonstrate that the EUR/JPY currency exchange rate might continue to trade trades within this session.