EUR/JPY analysis: Potential target at 134.00

Dukascopy Bank Team Dukascopy Bank SA

EUR/JPY

On Monday, the common European currency surged by 52 pips or 0.40% against the Japanese Yen. The currency pair breached the 132.78 level during the Asian session on Tuesday.

All things being equal, the exchange rate could continue to trend bullish during the following trading session. The potential target for bullish traders will be near the 134.00 level.

However, the upper line of an ascending channel pattern could provide resistance for the currency exchange rate within this 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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