The Eurozone single currency has surged by 59 pips or 0.46% against the Japanese Yen since Friday’s trading session. The currency pair breached the weekly resistance level at 127.48 during the Asian session on Monday.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. The exchange rate will most likely continue to edge higher during the following trading session.
However, a resistance line at 127.60 could provide resistance for the currency exchange rate in the shorter term.
