The common European currency rose by 26 pips or 0.20% against the Japanese Yen on Monday. The currency pair breached the resistance line at 129.65 during Monday’s trading session.
Given that a breakout has occurred from the resistance level at 129.65, bullish traders are likely to continue to drive the EUR/JPY pair higher during the following trading session.
However, the currency exchange rate could encounter resistance near the psychological level at 130.00 within this session.
