The common European currency declined by 31 pips or 0.23% against the Japanese Yen on Friday. The decline was stopped by the 50– hour simple moving average during Friday’s trading session.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Bullish traders could pressure the exchange rate higher during the following trading session.
However, the EUR/JPY currency exchange rate could make a brief pullback towards the weekly pivot point at 133.48 today.
