The single Eurozone currency rose by 79 basis points or 0.63% against the Japanese Yen on Monday. The currency pair tested the 126.98 level during the Asian session on Tuesday.
As for the near future, the exchange rate is likely to continue to surge in a narrow ascending channel pattern. Bullish traders could target the 127.40 area within this session.
However, a psychological resistance level at 127.00 could provide resistance for the EUR/JPY currency exchange rate during the following trading session
