The common European currency surged by 44 pips or 0.35% against the Japanese Yen on Thursday. The currency pair breached a resistance line at 127.12 on Friday morning.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the exchange rate could continue to edge higher during the following trading session.
However, the weekly R1 at 127.33 could provide resistance for the currency exchange rate within today’s trading session.
