Upside risks dominated the single European currency against the Japanese Yen on Friday. The currency pair appreciated about 134 base points during Friday’s trading session.
Monday’s trading session began with a bullish sentiment and by the middle of the day, the exchange rate was moving towards a resistance level formed by the weekly R1 at 126.03.
Most likely, the short-term target for the currency exchange rate will be near a swing high at 127.13.
Although, the EUR/JPY is expected to make a brief pull-back from a resistance level at 126.03 today.
