The single European currency traded sideways against the Japanese Yen on Friday. The monthly support level at 119.00 provided support for the currency pair during Friday’s trading session.
As for the near future, the exchange rate could break the monthly support level at the 119.00 area. If this breakout occurs, a decline towards the weekly S1 at 118.38 could be expected.
However, if the monthly S1 holds, the currency exchange rate will most likely edge higher within this session.