EUR/JPY analysis: Targets at 122.00
|EUR/JPY
The common European currency surged by 98 pips or 0.81% against the Japanese Yen on Monday. The currency pair tested the upper boundary of an ascending channel pattern at 121.80 during yesterday's trading session.
By and large, the EUR/JPY exchange rate will most likely continue to trend bullish during the following trading session. Bullish traders could aim at the psychological level at 122.00.
However, the monthly resistance level at 121.65 could provide resistance for the currency exchange rate within this session.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.