During the first half of yesterday’s trading session, the Eurozone single currency declined by 63 pips or 0.48% against the Japanese Yen. However, the Euro rebounded from a support level at 129.85 at the end of the day.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the exchange rate could continue to edge higher during the following trading session.
Although, a resistance level at 130.53 could provide resistance for the EUR/JPY currency exchange rate in the shorter term.
