The common European currency appreciated by 59 basis points against the Japanese Yen on Thursday. The surge was stopped by the upper line of a descending trendline.
Given that the currency pair has breached the 50– and 100– hour SMAs, most likely, bearish traders might dominate the EUR/JPY pair during the following trading session.
The currency exchange rate could end today’s trading session near a support level formed by the weekly S1 at 116.94.
