The Eurozone single currency rose by 230 pips or 1.87% against the Japanese Yen on Monday. The currency pair tested the 125.00 level during yesterday’s trading session.
Technical indicators flash buying signals on the 4-hour time frame chart. Most likely, bullish traders could continue to drive the exchange rate higher during the following trading session.
On the other hand, the EUR/JPY currency exchange rate might make a brief retracement towards the 50– hour moving average support level at 123.45 within this session.
