EUR/JPY analysis: Bullish momentum likely to continue

Dukascopy Bank Team Dukascopy Bank SA

EUR/JPY

Upside risks pressured the EUR/JPY currency pair higher on Thursday. As a result, the common European currency surged by 121 pips or 0.94% against the Japanese Yen during Thursday's trading session.

All things being equal, the bullish momentum is likely to continue within this session. The potential target for the exchange rate would be near the 130.22 level.

However, a resistance level at 129.69 could provide resistance for the currency exchange rate during the following trading session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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