The EUR/JPY currency pair traded with low volume on Monday. As a result, the Eurozone single currency made about 17 pips or 0.13% against the Japanese Yen during Monday’s trading session.
The exchange rate is currently trading near the lower line of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the 200– hour simple moving average at 129.90 could be expected within this session.
However, if the channel pattern holds, bullish traders might target the 130.80 area on Tuesday.
