On Friday, the Eurozone single currency surged by 56 pips or 0.44% against the Japanese Yen. The currency pair breached the 50– hour simple moving average during Friday’s trading session.
All things being equal, the exchange rate is likely to continue to trend bullish during the following trading session. The potential target for buyers will be near the 129.40 area.
However, the 200– hour simple moving average at 128.90 could provide resistance for the EUR/USD currency exchange rate within this session.
