The single European currency declined by 45 points or 0.36% against the Japanese Yen on Friday. The currency pair breached the 50– hour simple moving average during Friday’s trading session.
All things being equal, the exchange rate could slide lower during the following trading session. The possible target for bearish traders would be near the 200– hour SMA at 125.21.
However, a support level formed by the weekly pivot point at 125.76 could provide support for the EUR/JPY currency exchange rate within this session.
