The EUR/JPY currency pair bounced off from the lower boundary of an ascending channel pattern at 125.73 during yesterday’s trading session. As a result, the Euro surged by 51 pips or 0.40% against the Yen.
All things being equal, the exchange rate could continue to trend bullish during the following trading session. The potential target for bullish traders will be near the 126.80 level.
However, the weekly R1 at 126.54 could provide resistance for the currency exchange rate within this session.
