The common European soared over 90 pips or 0.79% against the Japanese Yen on Tuesday. The exchange rate tested the 118.20 level during yesterday’s trading session.
Everything being equal, the EUR/JPY currency pair could continue to edge higher during the following trading session. Buyers could target the weekly resistance level at 118.67.
However, the currency exchange rate is expected to make a brief pullback towards the weekly and the monthly pivot points at 117.29 today.
