During Tuesday’s trading session, the Eurozone single currency made 78 pips movement against the Japanese Yen.
As for the near future, it is likely that the EUR/JPY exchange rate would continue its downward movement. Bearish traders could aim for a support level formed by the weekly S3 at 120.71.
However, a support cluster formed by the combination of the weekly S1 and the monthly S2 at 121.28 could provide support for the currency exchange rate during the following trading session.
