The price chart of the EUR/JPY currency pair is seen showing a slight increase early in the European session today (Friday) following the release of European data supporting the Euro.
German factory orders data posted a surge for August that beat forecasts, while also outperforming a decline in orders the previous month.
However, the Euro currency is one of the ones at risk to be traded at the end of this week which will receive the reaction of the US dollar currency after the United States (US) NFP employment data is published in the New York session shortly.
Meanwhile, the Yen currency moved flat these days after the market witnessed the sudden strengthening of the Yen last Tuesday.
The market assesses that there is an intervention by the government or the central bank of Japan (BOJ), but the matter has not yet been confirmed.
Japan's Minister of Finance, Shunichi Suzuki once again refrained from commenting yesterday on whether there would be intervention or 'intervention' in the financial market.
The price movement on the EUR/JPY chart hovers testing the SBR (support become resistance) zone at 157.00 which became the price plunge level starting last Tuesday.
The price plunge on Tuesday from the zone reached around 154,500 before rising again the following day.
The movement of the price above the support level of the Moving Average 50 (MA50) on the 1-hour time frame on the EUR/JPY chart again gives the impression that the price will recover and make an increase, but the risk remains.
If the price increase succeeds in crossing the SBR zone of 157.00, the price will continue to rise towards the resistance zone at 158.400.
On the other hand, if the price bounces back down, the level around 155,800 is seen as the closest target to be tested first.
A lower decline will also lead to the level reached during last Tuesday's plunge before the 154.00 zone becomes the next focus if the decline pattern continues.
