Downside momentum dominated the EUR/JPY currency pair on Thursday. The single European currency ended yesterday’s session with about 130 base points declined against the Yen.
The exchange rate tested a resistance cluster at 128.89 during the first part of Friday’s session.
If this resistance cluster holds, the currency exchange rate will target a support level formed by the combination of the weekly and the monthly PPs near the 128.00 mark during the following trading session.
