The Eurozone single currency traded sideways against the Japanese Yen on Wednesday. The currency pair traded below the weekly R3 at 118.24 during yesterday’s trading session.
The exchange rate breached the weekly R3 during the first half of Thursday’s session. Most likely, the EUR/JPY pair would continue to edge higher. The possible target would be at the 119.00 area.
However, the upper boundary of an ascending channel pattern could provide resistance for the currency exchange rate during the following trading session
