The common European currency surged by 65 points or 0.52% against the Japanese Yen on Monday. The currency pair tested the weekly resistance level at 126.54 during yesterday’s trading session.
All things being equal, the EUR/JPY exchange rate could continue to trend higher during the following trading session. The potential target for bullish traders would be near the 127.00 area.
However, the weekly R1 at 126.54 could still provide resistance for the currency exchange rate on Tuesday.
