The price bullish pattern movement is displayed on the chart of the EUR/JPY currency pair throughout this week.
Although weak against the US dollar, the Euro currency is seen to be moving strongly against the Yen since recovering from last week.
If last week the price fell to around the 146.200 level, towards the end of this week the price has managed to climb back to the 150.00 level.
The Asian session this morning (Friday) saw prices slightly lower after reaching a high of 149,400 at the close of the previous New York session.
However, the price is still moving above the support level of the Moving Average 50 (MA50) on the 1-hour time frame on the EUR/JPY chart, which still shows a signal for a bullish trend movement.
If the increase continues successfully at the end of this week, the 150.00 level can be reached to record a 2-week high.
And if the price remains energetic and continues to surge higher, the level of 151,600 reached at the beginning of May will be the target to be reached again after the price recorded the highest level since 2008.
However, if the price starts to decline again in these final sessions, the 148,300 zone is seen as the closest area to test the price first.
The continued decline will target the 146,200 support zone that was hit last week.
