On Thursday, the common European currency edged higher by 42 pips or 0.32% against the Japanese Yen. The currency pair breached the resistance level at 130.40 during yesterday’s trading session.
The EUR/JPY exchange rate could continue to edge higher in the ascending channel pattern during the following trading session. The potential target for bullish traders will be near the 131.00 level.
However, the currency exchange rate may reverse from the psychological resistance level at 131.00 within this session.
