Upside risks dominated the common European currency against the Japanese Yen on Tuesday. The currency pair surged by 141 pips or 1.13% during yesterday’s trading session.
Given that a breakout had occurred, the exchange rate could continue to edge higher during the following trading session. The potential target for the EUR/JPY pair would be at the 127.00 level.
However, the currency exchange rate might make a brief retracement towards the 125.50 area within this session.
