The common European currency surged by 60 pips or 0.52% against the Japanese Yen on Friday. The currency pair bounced off the bottom border of an ascending channel pattern at 115.55 during Friday’s trading session.
All things being equal, the EUR/JPY exchange rate could continue to edge higher. The potential target for bullish traders would be near the 116.20 area during the following trading session.
On the other hand, the currency exchange rate could reverse from the current price level at 115.91 and aim for the 115.40 area within this session.
