Downside risks dominated the common European currency against the Japanese Yen on Friday. The EUR/JPY currency pair plunged by 148 basis points or 1.17% during Friday’s trading session.
The exchange rate has bounced off the bottom line of an ascending channel pattern at 125.30. Most likely, bulls could pressure the price higher during the following trading session.
However, a resistance level at 126.10 could provide resistance for the currency exchange rate within this session.
