The common European currency surged by 48 basis points or 0.38% against the Japanese Yen on Thursday. The currency pair tested the 127.40 level during yesterday’s trading session.
Everything being equal, the EUR/JPY exchange rate could continue to edge higher during the following trading session.
Bullish traders are likely to target the 128.00 level. However, the weekly R2 at 127.65 could provide resistance for the currency exchange rate within this session.
