On Friday, the common European currency declined by 78 pips or 0.68% against the Japanese Yen. The currency pair breached the 50– hour simple moving average during Friday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for bearish traders will be near the 128.20 area.
However, the support level at 128.65 could provide support for the EUR/JPY currency exchange rate within this session.