EUR/JPY Bulls Likely To Prevail

On Friday, the common European currency edged higher by 83 pips or 0.64% against the Japanese Yen. The currency pair breached the resistance level at 129.50 during Friday’s trading session.

All things being equal, the exchange rate could continue to trend higher during the following trading session. The potential target for the EUR/JPY pair will be near the 131.50 area.

However, the currency exchange rate may encounter resistance at 130.73 within this session.

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