The 50– hour simple moving average guided the single Eurozone currency against the Japanese Yen on Thursday. The currency pair made about 73 points or 0.58% during yesterday’s trading session.

All things being equal, the exchange rate could continue to trend bullish within the following trading session. The possible target for bullish traders would be at the 127.00 level.

However, the currency exchange rate is likely to make a retracement towards the previous resistance level at 125.60 before the end of Friday’s trading session.

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