The single European currency climbed by 66 pips or 0.52% against the Japanese Yen on Monday. The currency pair breached the weekly R2 at 127.83 during yesterday’s trading session.
Tuesday’s trading session began with bullish momentum. Most likely, a breakout through the upper boundary of an ascending channel pattern could occur within the following hours.
However, if the channel pattern holds, bearish traders might pressure the EUR/JPY currency exchange rate lower today.
