The Eurozone single currency edged higher by 52 points or 0.41% against the Japanese Yen on Wednesday. The currency pair broke a resistance level at 126.11 during Wednesday’s trading session.
Given that the exchange rate has breached the resistance level, bullish traders are likely to pressure the EUR/JPY pair higher during the following trading session. The potential target will be at the 126.60 level.
However, the currency exchange rate could encounter a resistance near the 126.40 are within this session.
