The common European currency has surged by 82 pips or 0.64% against the Japanese Yen since yesterday’s trading session. The currency pair breached the weekly resistance level at 129.72 during the Asian session on Thursday.
By and large, the EUR/JPY exchange rate is likely to continue to edge higher during the following trading session. The potential target for bullish traders will be near the 130.40 level.
However, the currency exchange rate might make a brief pullback towards the 50– hour simple moving average at 129.11 within this session.
