The Eurozone single currency surged by 64 pips or 0.52% against the Japanese Yen on Friday. The currency pair was pressured higher by the 50– and 100– hour simple moving averages.
Technical indicators flash buying on all time frames. Most likely, buyers will continue to pressure the EUR/JPY exchange rate higher during the following trading session.
However, the weekly resistance level at 122.98 could provide resistance for the currency exchange rate within this session.
