The EUR/JPY currency pair traded between the range of 125.97/125.40 during Friday’s trading session. The exchange rate breached the lower boundary of an ascending channel pattern on Friday. Technical indicators demonstrate buying signals on the daily time-frame chart. Most likely, bullish traders will pressure the euro higher during the following trading session.
However, a resistance cluster formed by the weekly pivot point and the 100– hour SMA at 126.00 could provide resistance for the currency exchange rate within this session.
