On Wednesday, the common European currency surged by 53 pips or 0.40% against the Japanese Yen. The currency pair breached the 131.50 area during Wednesday’s trading session.
Everything being equal, the exchange rate could continue to edge higher in an ascending channel pattern during the following trading session. The potential target for buyers will be near the 132.50 level.
However, the resistance line at 132.00 could provide resistance for the EUR/JPY currency exchange rate within this session.
