The Eurozone single currency surged by 58 pips or 0.44% against the Japanese Yen on Friday. The currency pair breached the resistance level at 132.04 during the Asian session on Monday.
All things being equal, the 50– hour simple moving average could provide support for bullish traders to drive the EUR/JPY exchange rate higher during the following trading session.
However, buyers are likely to encounter resistance near the 133.00 level during this session.
