The Eurozone single currency surged by 49 pips or 0.38% against the Japanese Yen on Monday. The currency pair breached the resistance level at 130.48 during Monday’s trading session.
All things being equal, the exchange rate is likely to continue to edge higher during the following trading session. The potential target for buyers will be near the weekly R1 at 131.09.
However, the resistance line at 130.91 might provide a barrier for bullish traders within this session.
