During the first part of yesterday’s trading session, the Eurozone single currency declined by 211 pips or 1.77% in value against the Japanese Yen. However, the currency pair made a U-turn from the weekly S1 at 117.19 and regained some of its lost points at the end of Monday’s session.
As for the near future, the exchange rate could make a slight upward movement towards the 120.50 area.
Although, a resistance level formed by the monthly pivot point at 119.64 could provide resistance for the EUR/JPY currency exchange rate within the following trading session.
