The single European currency has appreciated about 0.93% in value against the Japanese Yen since October 9. The currency pair reversed from the support level at 117.60 during the morning hours of Thursday’s trading session.
By and large, the exchange rate would most likely continue its upward movement during the next trading session. Bullish traders might aim for the weekly R2 at 118.64.
If the weekly R2 holds, the EUR/JPY currency exchange rate will make a brief downside retracement in the nearest future.
