The Eurozone single currency depreciated about 50 basis points against the Japanese Yen on Thursday. The currency pair tested the lower boundary of an ascending channel pattern at 119.07 during the previous trading session.
The exchange rate as moving along the 50– and 100– hour simple moving averages at 119.42/119.20 and the weekly PP during the morning hours of Friday’s trading session.
Technical indicators flash mixed signals today. Therefore, it is likely that the EUR/JPY currency exchange rate could trade sideways within the following trading session.