The common European currency depreciated about 84 base points against the Japanese Yen on Friday. The currency pair tested the lower boundary of a triangle pattern at 128.40 during the end of the previous trading session.
The exchange rate was moving along the 50– and 100-hour simple moving averages at 128.96/128.81 and the weekly PP during the morning hours of Monday’s session.
Technical indicators flash mixed signals today. Therefore, it is likely that the EUR/JPY currency exchange rate trade sideways during the following trading session.
