The common European currency traded sideways against the Japanese Yen on Thursday. The currency pair trading range during the previous session was between 129.08 and 128.68.
Friday’s trading session begins with a strong bearish momentum, and by the middle of the day, the exchange rate has depreciated by about 58 base points.
Technical indicators on the daily time frame suggest that the decline for the currency exchange rate is likely to continue within this session.
If the decline continues, a possible breakout through the lower boundary of an uptrend line is likely today.
