During the first part of yesterday’s trading session, the EUR/JPY currency pair depreciated about 90 base points. However, the single European currency regained some of its lost positions at the end of the session.
Everything being equal, it is likely that the exchange rate will continue its bearish momentum today. The possible target will be near a psychological support level at the 122.00 mark.
Although, the currency exchange rate could edge higher towards a resistance line at 122.97 before bear retakes the momentum.
