The EUR/JPY currency pair bounced off a support level formed by the weekly S1 at 129.81 on Tuesday. As a result, the Euro surged by 53 pips or 0.41% against the Yen during yesterday’s trading session.
All things being equal, the currency exchange rate could continue to edge higher during the following trading session. The potential target for buyers will be near the 130.66 level.
However, bullish traders are likely to encounter resistance at 130.45 during Wednesday’s trading session.
