Friday from an earlier low of 103.41, last at 104.57 just ahead of the end of trading, 90 pips above its daily open and more than 2% higher on the week.

“While the EUR continues to be pressured fundamentally, the JPY also has fundamental changes this week that weakens it in the form of an expanded Asset Purchase Program (QE),” explains Fan Yang, CMT, Chief Technical Strategist at FXTimes.com. “A bearish outlook from the upcoming resistance zone should be limited to 102.50 pivot and no lower than 102. With no clear fundamental edge, and market losing bearish bias, EUR/JPY is likely entering into a sideways choppy market.”