The Eurozone single currency appreciated about 0.48% in value against the Japanese Yen on Friday. The currency pair reached nearly the 123.00 marks during Friday’s trading session.
The exchange rate was trading near a psychological resistance level at 123.00 during the first half of Monday’s trading session.
Most likely, the EUR/JPY currency pair might make a brief retracement towards a support level set by the monthly pivot point at 122.37 today.
If the support line holds, bulls will continue their dominance in the market during the following trading session.
