The Eurozone single currency has surged by 240 basis points or 1.97% against the Japanese Yen since Thursday’s trading session. The currency pair breached the 124.00 level on Friday morning.
As for the near future, the exchange rate could continue to trend bullish. Buyers might target a significant resistance level at the 126.00 mark during the following trading session.
However, the currency exchange rate is expected to make a brief pullback towards the 50– hour simple moving average at 122.67 before the end of the US session on Friday.
