The Eurozone single currency declined by 91 pips or 0.79% against the Japanese Yen on Wednesday. The currency pair tested the weekly S2 at 114.54 during yesterday’s trading session.
Technical indicators suggest that the exchange rate could continue to edge lower during the following trading session. The EUR/JPY pair could target the support cluster at 113.70.
However, the currency exchange rate has to surpass the weekly support line at 114.54 before reaching the given target.
