The common European currency declined by 68 pips or 0.58% against the Japanese Yen on Wednesday. A breakout occurred through the lower boundary of an ascending at 116.20 during yesterday’s trading session.
Given that a breakout had occurred, the EUR/JPY exchange rate could continue to decline within this session. The possible target for bearish traders would be at the psychological support level at 115.00.
On the other hand, the currency exchange rate could reverse from the current price level at 115.46 and makes some upward move today.
