The common European currency traded sideways against the Japanese Yen on Thursday. The currency pair was trading below the 50-, 100– and 200– hour SMAs during yesterday’s trading session.

The exchange rate has been trading within the range of 118.31/117.62 since August 15. The EUR/JPY pair will most likely maintain the price range during the following trading session.

Bearish traders might pressure the currency exchange rate towards the 117.62 before the end of today’s trading session.

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