The common European currency rose by 42 pips or 0.32% against the Japanese Yen on Wednesday. The surge was stopped by the 50– hour simple moving average during yesterday's trading session.
Technical indicators flash sell signals on the 4H time-frame chart. Most likely, sellers could pressure the EUR/JPY exchange rate lower during the following trading session.
However, a support level at 129.66 could provide support for the currency exchange rate within this session.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.