The common European currency declined by 47 pips or 0.36% against the Japanese Yen on Wednesday. The currency pair breached the 130.00 level during Wednesday’s trading session.
All things being equal, the exchange rate is likely to continue to trend bearish during the following trading session. The potential target for the EUR/JPY pair will be near the 129.30 area.
However, the weekly support level at 129.62 could provide support for the currency exchange rate in the shorter term.
