On Tuesday, the common European currency edged higher by 55 pips or 0.41% against the Japanese Yen. The 50– hour simple moving average continued to pressure the currency pair higher.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Buyers are likely to target the 134.00 level during the following trading session.
On the other hand, the currency exchange rate might make a retracement towards the 132.81 area within this session.
