Upside risks dominated the common European currency against the Japanese Yen on Thursday. As a result, the currency pair surged by 76 pips or 0.59% during yesterday’s trading session.
The exchange rate is likely to edge lower today. Bearish traders could target a support level at the 129.80 level during the following trading session.
However, given that technical indicators suggest buying signals on the 4H time-frame chart, the EUR/JPY currency exchange rate might continue to edge higher during the following trading session.
