The common European currency made about 57 basis points or 0.45% move against the Japanese Yen on Friday. The currency pair tested the weekly pivot point at 125.76 during Friday’s trading session.
Currently, the EUR/JPY exchange rate is trading near the monthly resistance level at 126.48.
If the resistance line holds, a decline towards weekly PP at 125.76 could be expected today.
However, if the currency exchange rate breaks the monthly R1, bullish traders are likely to pressure the price towards the 127.00 level within this session.
