Upside risks have dominated the single European currency against the Japanese Yen since Thursday’s trading session. The currency pair has surged by 159 points or 1.27% during the past 24 hours.
Bulls are likely to continue to pressure the exchange rate higher within this session. The potential target for bullish traders would be near the 127.00 level.
However, the currency exchange rate is expected to make a brief retracement towards the 50– hour simple moving average at 125.64 during the following trading session.
