The Eurozone single currency has surged by 55 pips or 0.44% against the Japanese Yen since Tuesday’s trading session. The currency pair breached the 50– and 100– hour SMAs on Wednesday morning.
All things being equal, the EUR/JPY exchange rate is likely to continue to trend bullish during the following trading session. The possible target for bulls would be near the weekly resistance level at 127.22.
However, a resistance level at 126.60 could provide a barrier for bullish traders within today’s session.
