The 50– hour simple moving average guided the common European currency against the Japanese Yen on Friday.

As for the near future, the 50– hour SMA will most likely continue to guide the EUR/JPY currency pair up within this session.

Bullish traders could target a resistance cluster formed by the weekly R1 and the monthly R2 at 122.03.

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If the resistance cluster holds, a brief retracement down towards the 121.50 area could be expected during the following trading session.


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