The common European currency appreciated about 168 basis points against the Japanese Yen on Thursday. The currency pair hit a six-month high level at 122.50 during yesterday’s trading session.
All things being equal, the exchange rate will most likely continue to trade bullish within the following trading session. The EUR/JPY pair could target the 123.03 regions.
However, the currency exchange rate might make a brief pullback towards the weekly R3 at 121.71 within today’s trading session.