Upside risks dominated the EUR/JPY currency pair during Friday’s trading session. As a result, the Euro surged by 75 pips or 0.60% against the Yen on Friday.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Bullish traders will most likely continue to pressure the exchange rate higher during the following trading session. The possible target for bulls would be near the 127.60 area.
However, the weekly R1 at 127.33 could provide resistance for the currency exchange rate within this session.
