The common European currency declined by 50 pips or 0.38% against the Japanese Yen on Tuesday. The currency pair breached the weekly pivot point at 131.64 during yesterday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for the EUR/JPY pair will be near the weekly support level at 130.59.
However, bearish traders could find support near the 131.26 area during Wednesday’s trading session
